Thursday, June 25, 2009

Today in Gold: Thursday, June 25

Each weekday, Cash4Gold will troll through the web's gold banter and post some of the bigger or more interesting stories. Following is a run-down of today's features:

"U.S. Markets Wrap: Stocks, Treasuries Rise on Bernanke Defense "
Author: Jeff Kearns and Margot Habiby

Main Points: The dollar weakened and oil rose during today's session. As a result, gold for August delivery finished up $5.10 to $939.50 an ounce.

Analysis: It was the third consecutive session that gold has closed with positive movement, rising a total of $18.50 during that period. It's a far cry from the past month or so when the price of gold was regularly losing double digits.

What does this mean? It's not clear. Gold once seemed destined to break $1,000 an ounce with nothing in its way. It then abruptly dropped to around $920 an ounce. It appeared that, with the economy rebounding and no imminent threat of inflation apparent, there was little resistance to gold falling further -- potentially below $900.

In other words, just when you think you have gold figured out, think again.

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