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Gold Watch: Finally, a gaining session
Posted on May 15, 2008
Gold futures finished up $13.50 an ounce to close at $880 on the New York Mercantile Exchange during Thursday trading. MarketWatch reports: The precious metal s futures began to recoup the losses it had incurred during the previous three sessions because of poor U.S. economic data. Gold surged initially on technical buying and short covering prior to weak data in the form of Empire and Philly Federal Reserve indices, industrial production, weekly jobless claims and the TICs data -- all of which were neutral to negative, which exacerbated the move to the upside for gold, said Mark O'Byrne, a...
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