Gold, Silver, Metal Prices Commentary – July 29, 2010

]]>]]>Good Morning,

Another overnight period of tight trading ranges and agonizingly slow business unfolded ahead of Thursday’s New York session opening. Gold was confined to an $1162.50-$1170.40 price channel but gyrated mainly around the $1165 figure while the now familiar pattern of lack of interest among European and N. American buyers being offset by sporadic Indian purchases was also manifest.

In the background, the trade was still focused on the Fed survey issued on Wednesday. It shows 12 US regions within which the economic recovery can by labeled as ‘up slightly’ but at the same time still being plagued by plenty of soft patches. Of most concern, lending activity remains flat and new and/or existing home sales continue to be slow.... Read the rest of ]]>Gold, Silver, Metal Prices Commentary – July 29, 2010]]> (969 words)

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