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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 18th of February saw Gold prices opening at around
$1,321.10.
Today was another bad day for gold with more profit taking helping to keep the bounce in
price alive. Right now at least, gold has the data on its' side with the housing sector's
report showing a lag in home building that can't just be explained away by the weather
leading many to believe our economy is indeed slowing. You add to the fact that prices crossed
over the 200 day moving average and the gold bull's should be able to muster a decent run
as long as they hold this bounce well over the $1,300 mark. The last thing gold bull's
need right now is even more volatility if they hope to keep enticing investors to come
back to gold so they can drive prices back up this year.
We saw the low price of around $1,313.50 right near the start of normal US trading hours
and by some time near noon, we saw the high of around $1,323.80. We ended the day at around
$1,314.70 which resulted in the second loss in a row in the price of gold of around $6.40.
Thank you for watching this is Chuck Dougherty and this was the Spot Gold Prices Daily Wrap-up
for February 18th, 2014.
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See you in the next Gold prices episode! Until then, take care.