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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST

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To: elmatador who wrote (45985)1/30/2009 3:50:37 AM
From: Haim R. Branisteanu  Read Replies (1) of 217786
 
BULLET: GOLD: Spot gold is up over $11 in European trade,....
GOLD: Spot gold is up over $11 in European trade, just off session highs and having seen a $901.55 - $918.45 range. Stops are being called on the rise, with the yellow metal rocketing despite a stronger Dollar. Traders report they now look for the yellow metal to reach the $920 level, with spot gold currently up $11.12 at $919.77.

The reason suspected "US Treasury Bond indigestion" drives investors into Gold. The badly received 5yr US auction yesterday and subsequent higher yields and Chinese warnings that they will not continue to fund the US deficit is driving investors into Gold this morning as a safe haven but also as a hedge against future inflation.
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