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GOLD: The precious metal continued its recent theme of being the new king in the
European morning with the rate price grinding from the European low of $1294.81
to $1297.60, as the dollar continued to lose ground across the board.
- The arrival of NY saw another round of demand with the price printing a new
high of $1297.71.
- With the talk of large dollar selling at the London 4PM fix, traders chatter
is the price could test the reported resistance at $1300.00.
- Gold continues its dominant tone and adds more weight on the dollar, with
another round of gold demand the price broke the $1300, printing highs of
- The yellow metal continues to be in high demand as investor continue to sell
dollars, the price has spiked to a new 6 week high of $1303.98 before losing
some momentum and dropping back towards $1301.50.
- The yellow metal gets a further lift into the early NY close with the rate
spiking to session highs of $1305.43 before dropping back towards $1304.50.