Thursday, September 10, 2009

Buy gold on corrections.

Despite a tumbling US dollar which continued its nosedive, gold closed down yesterday closing below the $1000.00/oz mark. However, the move was largely interpreted as consolidation with some investors deciding to take profits after the rally seen in the last few days. Following a speech by G20 leaders saying the time for an exit strategy has not yet arrived the outlook for gold remains positive as concerns about inflation are back in focus. Silver has followed the gold lower despite a weaker greenback losing 27 cents to settle at $16.360/oz.

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