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Tuesday, December 12, 2006

Good News on Gold

This has been reported recently, but it's nice to see more of this...

``Jewelers across Asia are buying gold on every dip, said Si Kannan, an analyst at Mumbai-based Sharekhan Commodities Pvt. said. ``There is also some physical buying from investors.''

This helps put a floor under the yellow metal. Now all we need is for the US dollar to start its next leg down. However, the US trade deficit narrowed in October to $58.9 billion from $64.3 billion in September. October's number was better than estimates of $63 billion. So this could give the greenback some more legs (for a while).

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