Monday, February 8, 2010

Gold Futures Up $20 on Globex

Gold Futures Up

Monday morning found gold futures on Globex increasing as high as $20 an ounce, making a move based largely on the recent selloff was an overresponse to market conditions.

There was really no reason for the recent dip in gold, and so the markets are responding accordingly by starting the price of gold futures up again.

Some believe gold has found its bottom now and should resume its upwards climb, although that's uncertain, and sure to sputter up and down if indeed it does continue its price increase.

April delivery for gold reached as high as $1,073 on Globex on Monday morning in Asia, after shedding $65 on the last combined three sessions.

Uncertainty continues to influence gold futures prices as the emerging disaster for the euro continues concerning European sovereign debt.

Gold Futures Up

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