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Gold tests key resistance

By   || October 29, 2010 at 12:19 GMT
|| 3 comments || Add comment

Gold just jumped a quick $10, testing the key area of resistance through about the $1352 level. A headline from a Chinese official blaming Japan for damaging the atmosphere at a summit meeting by raising the issue of disputed islands may be the catalyst. Japan is responsible for everything in the diplomatic standoff, the official says.

Geopolitical tensions can boost gold as a safe-haven, especially when the US, who has a security pact with Japan, is concerned.

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3 Responses to “Gold tests key resistance”

  1. PapaSwamp on October 29th, 2010 12:21 GMT

    Advanced GDP out to those with subscriptions signaling worse than expected?…or not.

  2. Jamie Coleman on October 29th, 2010 12:22 GMT

    not

  3. PapaSwamp on October 29th, 2010 12:27 GMT

    Dang smack a man down so early in the am….
    Silver took a bit of a hop but has slid back to almost yesterdays close

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