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Friday, December 08, 2006

Comex Gold/Silver Push higher

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Comex gold and silver oscillate inversely to U.S. dollar movements since the November jobs report.

They were initially softer as the dollar gained ground, but the metals have recovered as the greenback since turned lower.

The employment numbers were not dramatic enough to change the outlook of the Fed being on hold next week, However, We still have inflation data to look at this month. That is tending to be more important than the employment data.

Spot Gold pushing higher at 637 levels, after Michigan as well, as further USD weakness seen.
More USD weakness is on hand, and Next week looks for a nice push.
Precious Metals holding well with USD weakness and Crude Oil Push.

Profit taking is Expected today as well, which should be a good buy in dips opportunity

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