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Gold May Climb After Biggest Decline in Week on Economic Woes

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posted on Jun, 28 2010 @ 10:23 PM
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Gold May Climb After Biggest Decline in Week on Economic Woes



June 29 (Bloomberg) -- Gold may rebound from the biggest decline in a week on speculation that the global economic recovery may be faltering, spurring demand for safer assets.

Gold for immediate delivery was little changed at $1,239.95 an ounce at 8:59 a.m. in Singapore, after falling 1.3 percent yesterday. August-delivery futures were also little changed at $1,240 an ounce.

“Gold is the ultimate insurance policy in the face of financial market uncertainty and investors continue to receive mixed messages with respect to the broader world economy,” Gavin Wendt, senior analyst with MineLife Pty Ltd. in Sydney. “Continued strong growth amongst emerging economies is being offset by uncertainty in Europe and the U.S.”



Yet other sources claimed that gold was down on a stronger dollar...

I'm getting mixed signals from the marketplace commentators...




posted on Jun, 28 2010 @ 11:01 PM
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Hunka that was Singapore. The price of gold depends on which market you follow. The US was down on the dollar going up but not down to critical levels and the Hui and Xau were minimally changed considering the US drop.

Gold moves differently in markets depending on the currency you are interested in. But with your savvy, I think you know that Simplistic I know, ( i am simple).



posted on Jun, 28 2010 @ 11:26 PM
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I'm getting mixed signals from the marketplace commentators...


There will always be mixed signals, and always has been unfortunately...that's what makes a market though. Life would be easy if your investments were guaranteed to outclass every single other choice available 100%.

I think for some gold is the enemy, yet for others it is freedom and real money. I don't worry about these tiny brief, short-term smackdowns in gold - it's actually good that gold just continues on its way, two steps forward, one back.



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