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Gold Watch: Traders cautiously await Fed rate decision
Posted on April 28, 2008
Gold for June delivery gained $5.80, or 0.7%, to end at $895.50 an ounce on the New York Mercantile Exchange. MarketWatch reports: Gold futures rose on Monday after the crude-oil contract neared $120 a barrel, raising the metal's appeal as a hedge against inflation. Metals could not help but notice the explosive move in crude, said Edward Meir, an analyst at MF Global, in a research note. We expect commodities in general to remain firm at least through to midweek, as the strong energy complex sets the tone, while the weakness in the dollar should also help. We expect the dollar's rally to...
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