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Gold Higher On Euro Strength

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Gold Higher On Euro Strength

The euro had a big surge against the dollar and gold prices finally reacted by moving higher.

In early trading volume was light and gold was up $1.05 to $1,749.88 and silver was off $0.04 to $33.05, for a silver/gold ratio of 52.9.

It was a relief to see gold finally react to currency valuations as the precious metal had stubbornly refused to move higher despite gains by the euro against the dollar in previous trading days. The not so great news is that prices, on a percentage basis, didn’t come anywhere near matching the gains...

Related Tags: Euro strength