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Hello my name is Chuck Dougherty and this is the Spot Gold Prices Daily Wrap-up.
The Spot Gold prices for Sunday the 16th of March saw Gold prices opening at around $1,382.00.
We saw some reaction Sunday to the Crimean vote although the results were no surprise
to anyone who has been paying attention so the market reaction was a bit subdued. Most
traders are waiting for the aftermath of the result in the way of sanctions levied against
Russia. As shaky as the global economy is at the moment any large scale sanctions could
further destabilize it.
After the announcement about what actions are to be taken we should expect to see the
markets react accordingly with many jumping into gold for additional security. We saw
a spike up to the high of around $1,390.10 after the vote but another bout of profit
taking pushed gold back down to the low for the day at around $1381.00. From there we
ended the short trading day almost right back where we started at around $1,381.90 which
resulted in a tiny loss in the price of gold of around $0.10.
Thank you for watching this is Chuck Dougherty and this was the Spot Gold Prices Daily Wrap-up
for March 16th, 2014.
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See you in the next Gold prices episode! Until then, take care.