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Gold gains at US dollar weakens Matt Whittaker From: Dow Jones Newswires December 24, 2009 7:23AM Increase Text SizeDecrease Text SizePrintEmail Share
Add to DiggAdd to del.icio.usAdd to FacebookAdd to KwoffAdd to MyspaceAdd to NewsvineWhat are these?A WEAKER US dollar pushed gold to a higher settlement in New York today as investors found the metal's recent pullback to be a buying opportunity.
Benchmark February gold futures rose $US7.30 to settle at $US1094 an ounce on the Comex division of the New York Mercantile Exchange. Shortly after gold closed, the US Dollar Index was down 0.449 point at 77.801 points
Gold "was kind of oversold to some degree," said Stephen Platt, analyst with Archer Financial Services. "You're seeing some bargain hunting buying."
Higher crude oil prices also helped gold, he said.
KEY COMMODITY PRICES: oil. gold, base metals, livestock and wheat
In addition to the weaker US dollar, gold was bouncing off support levels around $US1075, said Larry Young, senior trader with Infinity Futures. The February gold contract dipped as low as $US1075.20 yesterday. That's off its December 3 record high of $US1227.50.
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Gold's pullback has come in part as investors have bought the US dollar amid growing confidence in the economic recovery and expectations the Federal Reserve will raise interest rates earlier than expected.
That would create a more difficult environment for rising gold prices because it would mean a curtailing of the easy money policy of near-zero interest rates that has helped boost gold this year.
Also, US dollar-denominated assets like gold often trade inversely to the greenback because US dollar movements make them more or less expensive for those using other currencies.
In the New York session, investors took profits from the greenback's recent rally after the Commerce Department said that sales of single-family homes decreased 11.3 per cent to a seasonally adjusted annual rate
spoofem on the MOVE BIG TIME
Apple Accepts SPOOFEM.COM's iPhone Application
6 minutes ago - Market Wire
Its going to be a longgggg night for some of you #@&*%!
EVERYONE..if you give FIRE some spare change he will leave you alone .50 cent will do.... LOL
I was thinking the same thing.FFGO maybe on to somthing here
Some of you had a chance to buy yesterday at 2&3 will be running hard today. I hope you are FAST &&&
Try 0.0004
This is the WILD WILD WEST..... tomorrow will be CRAZY good night all.
Fortress Financial Group, Inc. (FFGO.PK) has added an additional 402 stockholders to its E Mail Database today alone!
6 minutes ago from web
SHOW TIME 5.4.3.2.1.$$$
maybe we RUN today $$$
FFGO on the move up 20000000
REMEMBER the WEEDS always come out when the grass is GREEN $$$$$ LOL
RUN FOREST RUNNNNNNNNNNNNN...$$$$$$$
I second THAT....
Maybe it's peanut butter and jelly..... TIME
SPOF up 45%
Take a look at this cyber crime by hackers overseas on msnbc. {Ok Greg wake up}http://today.msnbc.msn.com/id/26184891/vp/33189545#33189545
YOU.. GO MONEY you the man... keep up the good work.
get them while their cheap...run is coming !!!!!!
I was filled at 17s yesterday
LOL....LOL thats funnnnyyy
Evans on radio know !!
Yes sir PENNY time
He said *+>^#!`/,?'% means i will buy buy buy more $$$$ LOL
STORM is coming everyone have left the board.....LOL
Like Greg said if you dont like it sell and move on....
scottrade everything is good $$$
More hackers break into Goverment computers.
http://www.mashget.com/top-stories/2009/04/21/hackers-stole-data-on-pentagons-newest-fighter-jet/
This company LGTT is going to BLAST OFF very soon !!!
Glade i pickup those 5sss
So did i $$$$$
Glad to have you aboard 89. Thanks for your help
Yes i did... and its going to get even worse day by day.
Fred is in the whitness protection program !! LOL
My SC say 78000000
Feeling good billy ray!!!!LOL
G that was FUNNY!!!!!!!!!!
Hunt Gold NEWS done deal!!!