Gold bullion trading under $1410
FXstreet.com (Barcelona) - A firmer US dollar is pressuring
gold futures lower by mid-day over Europe, despite showing modest
strength in late trading over Asia due to the Japanese earthquake and
tensions over the Middle East. Currently the front-month contract trades
under the day´s opening price at $1409.50/ounce on relatively light
volume so far.
While the
Middle East braces for another "Day of Rage" which could trigger higher
risk aversion if unrest escalates in Saudia Arabia, the yellow metal for
the most part continues to ease off Monday´s all-time highs due to a
recovering US dollar. Re-emerging eurozone debt concerns have triggered a
recovery in the greenback against its principle rivals, which weighs
heavily on dollar-denominated commodities like gold in general.
Read more:
http://community.nasdaq.com/News/2011-03/gold-bullion-trading-under-1410.aspx?storyid=61603#ixzz1GJ2sXXEW
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