The most-active June gold contract traded on the Comex division of the New York Mercantile Exchange is headed for its seventh straight down day.
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Big up days this week on Monday and Friday enabled the most-active December gold contract to hit its highest level in more than a month on the Comex division of the New York Mercantile Exchange.
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The Bundesbank said the move is not because it expects a worldwide crisis or because it wants to become more active in the gold market.
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The Bundesbank downplayed the move and said it was not because the bank expects a worldwide crisis or because it wants to become more active in the gold market.
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The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market, particularly in Asia.
Shares in other active hedgers, who have committed to sell gold at lower prices than can be fetched now, such as Cambior, a Canadian producer, have also dropped sharply.
However, this fell short of the session high for the same contract month in gold (but not the most-active contract) on the Comex division.
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Second, and because silver is a much smaller, tighter market than gold, its volatility makes silver more appealing to active traders and quick-gain investors.
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The gold market also saw technical chart consolidation Thursday, following active price movements earlier this week.
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The gold market is also seeing some technical chart consolidation Thursday, following active price movements earlier this week.
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Silver is actually a by-product of the gold and lead mining, there are few, if any, active mines that mine only silver.
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Both gold and silver are experiencing some consolidation on the daily charts following more active trading earlier this week.
As gold fell through the short-term trendline shown on the chart commonly used by active traders, stops hit and exasperated selling.
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