Instead he called for a special technical inquiry into track maintenance and metal fatigue.
With little fresh news to push the market, the yellow metal continues to trade off technical chart signals.
FORBES: P.M. Kitco Metals Roundup: Weaker Technical Chart Picture Pressures Gold, Silver
The market is seeing some profit taking and a downside technical correction following recent solid gains that pushed the yellow metal to a three-month high this week.
FORBES: A.M. Kitco Metals Roundup: Comex Gold Weaker On Corrective, Profit-Taking Pullback
Key industries in the region that are expected to benefit the most include: construction, machinery manufacturing, fabricated metal manufacturing, water transportation, professional and technical services, electrical equipment manufacturing, plastics products manufacturing and primary metals manufacturing.
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The yellow metal has suffered from a combination of intense profit taking, technical selling, and an improved stock market, which has zapped capital ahead of a possible fiscal cliff deal.
FORBES: Heavy Profit Taking In Gold Has Investors Licking Their Wounds
To be technical they have moved from nickel cadmium (NiCad), through nickel-metal hydride (NiMH) to lithium-ion (Li-ion).
Gold produced a bullish weekly high close on Friday, which is an early technical clue that a near-term market bottom is in place for the yellow metal.
The near-term technical posture for gold improved Wednesday, which added to trader buying interest in the yellow metal.
FORBES: Comex Gold, Silver End Higher on Safe-Haven, Technical Buying; Gold at 7-Week High
Follow-through buying and fresh technical strength from big gains posted Tuesday combined with safe-haven investment demand to propel the precious yellow metal.
The precious yellow metal is boosted by fresh safe-haven investment demand and on fresh upside near-term technical momentum gained by the bulls this week.
FORBES: Comex Gold Higher on Safe-Haven Demand, Fresh Technical Buying
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