The sentiment remains generally mixed and gold moved to the upside on Wednesday most of the session an alongside the dollar ahead of the FOMC minutes that were expected to reiterate Bernanke’s comments following the decision and accordingly the pledge to keep rates near zero.
With the loose monetary outlook for the U.S., the debt crisis in Europe, and the high uncertainty over the outlook for the recovery, gold found room to rise slightly as many still speculate whether the metal’s run is over or not.
Investors eased the selling after news that hedge funds and large investors like Soros have dumped their gold holdings and locked on their profit.
Still, the outlook for the metal remains mixed and the gains might be a temporary relief and speculative rise following the drop as the volatility remains high and the outlook for the dollar mixed amid rising problems in the course of the global recovery.
The volatility will prevail on Thursday with the GDP data from Japan and manufacturing figures from China that might add to woes over the outlook for the recovery ahead of more housing, industrial, and jobs figures from the U.S. and accordingly the dollar will fluctuate on the sentiment and so will gold. Original Post by Commoditiesmansion.com...
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