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Mid-Session Gold Market Report for 12/3/2008

Once again the gold market showed early morning weakness and once again the gold market managed to throw off that weakness in the face of a recovery in the US stock market. Surprisingly the Dollar remained in positive ground and that action didn't seem to hold back gold from managing a low to high rally this morning of $19 an ounce. Even more surprising is the fact that the gold market wasn't specifically undermined by the flow of scheduled US data, even though the data was weak and perhaps even weaker than some expectations. However, it did seem as if a host of physical commodity markets managed to bounce on this morning and that probably contributed to the bounce in gold prices.




 
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