NYMEX CBOT CME CME Group
Mid-Session Gold Market Report for 9/5/2008

The gold market forged a surprise rally in the wake of the scheduled data and even more surprisingly managed the rally in the face of weakness in the silver, platinum and copper markets. While the Press and trade claimed that short covering was behind the bounce in gold, it is also possible that a ratcheting upward of economic uncertainty in the wake of the US numbers revitalized the flight to quality angle. In the end, seeing the bounce in gold in the face of lingering strength in the Dollar and ongoing weakness in the energy complex suggests that either short covering or renewed flight to quality interest was surfacing.




 
©2008 Chicago Board of Trade. All rights reserved. Investor Relations | Site Map | Legal | Contact Us | RSS Feed | Subscriptions