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Gold Market Recap Report for 7/25/2008

The gold market mostly waffled around unchanged on Friday but seeing the market mostly hold together in the face of slight reduction in US macro economic anxiety was somewhat impressive. However, ongoing weakness in a host of key US financial sector stocks on Friday seemed to keep alive US bank fears. With the gold market also generally holding up well in the face of another new low for the move in the energy complex, the market as a whole wasn't particularly vulnerable to the usual bearish forces. Perhaps some gold traders were emboldened by the news that Bank of Canada liquidity injections reached up to $1.35 billion as that in conjunction with lingering US real estate concerns seems to be able to channel some fresh buying interest toward the gold market.




 
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