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Gold Tracks To Previous Range

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Gold continued its drift back to the comfortable trading range between $1,620 and $1,640, though a change in the underlying fundamentals could impact prices going forward. 

In early trading gold was down $10.60 to $1,641.25 and silver was off $0.20 to $30.39, raising the silver/gold ratio to 54.  That’s the highest silver/gold ratio we’ve seen in the last three months. 

It wasn’t that hard predicting gold would drift back down to its previous trading range because there was no news that would hold it at higher prices.  Meanwhile, the dollar has been steadily gaining ground...