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Gold Watch: Can bullion hold above $900?
Posted on May 19, 2008
Gold for June delivery closed $5.90 higher at $905.80 an ounce on the New York Mercantile Exchange. It hasn't closed at a level this high since April 23. MarketWatch reports: Gold futures climbed almost $6 an ounce Monday as concerns about inflation and overall strength in oil prices helped boost investment demand for the precious metal. There is a definite air of the 1970s in recent economic data and the reality of falling economic growth and rising inflation or stagflation, said March O'Byrne, director at Gold and Silver Investments Ltd. With the dollar having strengthened against the eur...
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