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FRIDAY Market Excerpts
Nov 20th, 2009 15:27 by Daily Market Report

Gold ends week at new high

The COMEX December gold futures contract closed up $4.90 Friday at $1146.80, trading between $1132.50 and $1148.60

November 20, p.m. excerpts:
(from Marketwatch)
Gold futures rose for a sixth straight session to a new record high, ending with their third weekly gain as continued worries over a weaker dollar and global inflation encouraged investors to buy gold as a safe asset. Benchmark gold futures contracts have soared 26% since their July low, rising 16 out of 19 weeks. In Friday trading, the dollar rose against the euro and other major rivals, with the dollar index up 0.4% to 75.631…more
(from Bloomberg)
The greenback climbed as much as 0.8 percent. “The gold price should not fear a new long-term uptrend in the dollar,” Deutsche Bank said. “In periods of risk aversion which lead to a strengthening dollar and strong inflows into gold ETFs, the strong correlation may start to fade.” Gold rose 0.4 percent after earlier dropping as much as 0.8 percent…more
(from Dow Jones)
The metal shrugged off the stronger dollar to settle higher as participants wanted to hold onto bullish positions heading into the weekend. Gold was helped on investor skittishness about the dollar and talk of a stock market correction, said Michael Gross, broker and futures analyst with OptionSellers.com. “Nobody wants to be short gold over the weekend,” Gross says. December gold rose nearly 2.7% on the week…more
(from Reuters)
Earlier in the session, gold was being capped by strength in the dollar and weaker equities. Traders said the fact that gold was able to climb despite the headwinds of a stronger dollar, weaker equities and lower oil prices showed strong underlying demand. “People want to buy gold on breaks,” said Adam Klopfenstein, senior market strategist at Lind-Waldock. “Gold will hold its stability relative to other asset classes as long as there are economic uncertainty and potential for inflation going forward.”…more

see full news, 24-hr newswire

November 20th’s audio MarketMinute

THURSDAY Market Excerpts
Nov 19th, 2009 15:59 by Daily Market Report
WEDNESDAY Market Excerpts
Nov 18th, 2009 15:15 by Daily Market Report
TUESDAY Market Excerpts
Nov 17th, 2009 14:24 by Daily Market Report
MONDAY Market Excerpts
Nov 16th, 2009 16:08 by Daily Market Report
FRIDAY Market Excerpts
Nov 13th, 2009 17:28 by Daily Market Report
THURSDAY Market Excerpts
Nov 12th, 2009 15:23 by Daily Market Report
WEDNESDAY Market Excerpts
Nov 11th, 2009 15:44 by Daily Market Report
TUESDAY Market Excerpts
Nov 10th, 2009 15:04 by Daily Market Report
MONDAY Market Excerpts
Nov 9th, 2009 15:39 by Daily Market Report
FRIDAY Market Excerpts
Nov 6th, 2009 15:37 by Daily Market Report
THURSDAY Market Excerpts
Nov 5th, 2009 15:35 by Daily Market Report
WEDNESDAY Market Excerpts
Nov 4th, 2009 16:00 by Daily Market Report
TUESDAY Market Excerpts
Nov 3rd, 2009 16:46 by Daily Market Report
MONDAY Market Excerpts
Nov 2nd, 2009 16:51 by Daily Market Report
FRIDAY Market Excerpts
Oct 30th, 2009 16:49 by Daily Market Report
THURSDAY Market Excerpts
Oct 29th, 2009 15:37 by Daily Market Report
WEDNESDAY Market Excerpts
Oct 28th, 2009 15:36 by Daily Market Report
TUESDAY Market Excerpts
Oct 27th, 2009 16:11 by Daily Market Report
MONDAY Market Excerpts
Oct 26th, 2009 16:21 by Daily Market Report
FRIDAY Market Excerpts
Oct 23rd, 2009 16:15 by Daily Market Report
THURSDAY Market Excerpts
Oct 22nd, 2009 15:05 by Daily Market Report
WEDNESDAY Market Excerpts
Oct 21st, 2009 14:13 by Daily Market Report
TUESDAY Market Excerpts
Oct 20th, 2009 17:18 by Daily Market Report
MONDAY Market Excerpts
Oct 19th, 2009 15:34 by Daily Market Report
FRIDAY Market Excerpts
Oct 16th, 2009 16:20 by Daily Market Report
THURSDAY Market Excerpts
Oct 15th, 2009 15:55 by Daily Market Report
WEDNESDAY Market Excerpts
Oct 14th, 2009 18:10 by Daily Market Report
TUESDAY Market Excerpts
Oct 13th, 2009 15:33 by Daily Market Report
MONDAY Market Excerpts
Oct 12th, 2009 16:27 by Daily Market Report


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