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Wednesday, November 29, 2006

Gold Update

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Market awaits for GDP data to come out at 13:30 GMT.
With lots of Volatility to trade in as traders wait for US figures.
With EUR/USD consolidating going on, USD weakness still in hands, and anticipate for further weakness to come.
Gold Daily Chart suggest a good technical Improvement, with showing readiness of a new bull ride to cross 642 channels.
Main Activity to watch is Crude Oil Inventories, it appears chances for Crude Oil to push higher, with Expectations for OPEC to do cut, if prices fall sharply.

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