DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL Message Board

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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL

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To: PaperPerson who wrote (4388)	10/6/2011 8:26:12 AM
From: PaperPerson	of 4690

Commerzbank: Gold Could Remain Choppy For A While Yet 06 Ocotber 2011, 08:06 a.m. kitco.com (Kitco News) - Gold has been volatile lately and this pattern could continue for a while yet, says Commerzbank. Also, the metal lately is largely moving in line with equities. “These made strong gains yesterday as fears of a recession eased and hopes emerged for recapitalization of the European banking sector,” Commerzbank says. “Gold's unusual behavior at present can be explained by events on the futures market. When the equity markets rise, there is less need for forced sales. However, financial investors still hold a surplus of speculative long positions, which are likely to be closed if prices rise. If, when this happens, prices take a dive, as they did yesterday, then interest in physical gold will start to rise. This pattern is likely to mean the price of gold fluctuating for quite some time within a broad sideways range before a new upturn begins.”

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