Nonetheless, this is a headline-driven market and gold will continue to benefit on the margin until there is improvement in near-term expectations for Europe and to a lesser extent, the United States.
"In the absence of any positive stimulus and sentiments... we foresee the pressure on volumes to continue until there is significant improvement in macroeconomic factors, " said Rakesh Srivastava, senior vice president of Hyundai Motor's India unit.
In the chart above we forecast the high gross margin for mobile flash memory cards will continue into the future, as the cost improvement achieved is based on technological developments by SanDisk.
He said the red snow warning remained in place with severe gale force winds and blizzard conditions expected to continue throughout the day and overnight, with only a slow improvement expected on Tuesday.