During early morning hours this morning gold briefly rose above $1110.00 while the USD today has been struggling to retain 75.00.

75.20 was a key level for the USD, and breaking under it today signifies a potential new slide lower.

The recent IMF sale of 200 tons of gold to India’s central bank has created a great deal of interest, but perhaps more importantly has put in a potential floor under the gold price – India bought its gold at an average of $1045 per troy ounce.

This entry was posted on Monday, November 9th, 2009 at 12:51 pm and is filed under Archived. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.