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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 Tuesday the 25th of March saw Gold prices opening at around
$1,312.80.
The Gold price nose dive that started last week and continued into this one has leveled
off for now. A round of short coverings and increased physical demand as the price dips
helped to ease the freefall, as did the mixed bag of US economic data that was released
Tuesday. Consumer confidence is higher although it isn't that consumer's think things are
better now, it's that they think they will be better down the line. Some of the other
data showed home prices are higher but new home sales dropped 3.3% so we still are getting
mixed signals.
You can see by the chart that the tug of war started from the first minute of the day and
lasted through the last minute of the day. We saw a jump up to the high of around $1,316.80
right near the start of normal US trading hours. Not long after the close of normal
US trading hours we saw the low of around $1,309.30 before we ended the trading day
at around $1,312.90 and this resulted in a tiny gain 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 25th, 2014.
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See you in the next Gold prices episode! Until then, take care.