US gold up on weak data

17 May, 2008

US gold futures held on to robust gains into the close on Thursday, as a string of weaker-than-forecast US economic reports and healthy physical demand underpinned the precious metal, traders said.
Still seeing good physical interest out of Asia. The fact that the dollar has not gone straight up drew some gold players back in the market after they exited positions in anticipation of a further dollar rise that never materialised - Bill O'Neill, partner of LOGIC Advisors.

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