Three Factors Further Propelling Gold
There were three reasons
that prompted nervous
buying in the gold market today:Â
1. The bombing at the US Consulate in
Pakistan.
2. Further weakness in the US dollar
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3. Another drop in US equities.
August gold futures
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high as $324 an ounce, then pulled back to end the session at a 10-day high,
closing at $319.69 an ounce, up 1.19. July silver
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on today’s trade, adding .30 of a cent to close at $4.83 1/2 an ounce. July
copper
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The September S&P 500 futures
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open and falling below the 1000 support level to 978, the S&Ps worked their
way into an ascending triangle and rallied to close at 1009 only losing 1.80.
The Nasdaq 100 futures for September
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major losses to close at 1117, just a 1.50 loss on the session. Carolyn Boroden
has an opinion on the gold market today.
Click here to see
what she has to say.
After yesterday’s stellar performance, grain and
soybean futures gave up some of their gains at the Chicago Board of Trade.
Wheat for July delivery
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$2.94 1/2 a bushel. July soybeans
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bushel. July corn
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bushel.
Once again, Crude oil led the energies up today.
Crude oil for July
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heating oil
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unleaded gasoline
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cents a barrel. And Natural gas rose .13 or 4.05% to 3.33.