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Wednesday, October 04, 2006

Gold Update

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Gold Stands at 561 levels.
It Appears market is looking fot 543 levels Again. However its important to be a little side for the moment, as Crude Oil stays at Support and trying to push higher, also tommorrow we have ECB rate decision and BOE Rate decision, this could weaken heavily the Dollar.

The Other reasons for Down Push is : Tuesday there was a talk that two Central Banks may have been selling gold for Euros, which may have helped the euro recover yesterday.

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