The correction in gold appears to be over for the reasons cited above.
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Thus, when the dollar strengthens, gold appears to artificially decrease in price.
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Upon closer inspection, however, gold appears due for another strong upswing.
While the inflation hedge argument is thrown around, gold appears to be resilient both to inflation and deflation, suggesting it is acting more as a fear gauge.
The gold market bulls are frustrated because gold appears to be pressured when the greenback rallies, but cannot gain support on days when the dollar index is lower.
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Demand for gold appears to be fueled by uncertainty and a move toward hard assets that provide security beyond a piece of paper that can be debased by the printing press.
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In addition, the gold rush appears to have ended, networkers are so last year, commodities are on the run, the dollar is in decline, and yet the fear of inflation (in the emerging markets, that is) is cited daily as a reason for market weakness.
They said the given the size of the money-managers net-long position and that open interest in gold is off 8% from where it was at this point last year, it appears gold is overbought.
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The battle for control of Australian gold producer Normandy appears to be nearing the end.
Thin strands of curved white gold lined with what appears to be baguette-cut diamonds make up much of the jewelry piece.
Superficially this appears to mean that gold prices would need to be revised upward 47 fold.
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The situation in India continued to remain unfavorable for gold demand as the monsoon season appears to be on track to be the worst one since 2009.
Barrick Gold unveiled its first quarter earnings numbers, managing to beat profit estimates but giving a clear picture to what appears to be a new reality in the gold mining world: rising production costs and uncertain, and even falling, gold prices.
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An implosion that appears to have started in the gold market last Friday spread throughout the commodities complex on Monday, with everything from crude oil to soybeans falling.
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There appears to be some support for gold at the lower levels, said Afshin Nabavi, head of trading at trading house MKS Finance, who also expects gold to trade in the current range and test the upper boundaries.
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To us it appears to us to have the most favorable valuation among the major gold miners, possibly due to the swoon in copper prices.
Yet now with the serious drop in gold, coupled as it has been by a bull run in stocks, it appears that investors are peeking out of their inflation hedges in the hope that profits and returns in a reliable currency will be available in the future.
The European Union sovereign debt crisis appears to have stabilized this week, and that has been a bullish factor for the gold market, which has been acting like a risk asset the past few weeks.
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