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Gold Lower On Thin Trading

vlrqwer Wrote: Oct 30, 2012 11:24 AM
Disaster coordination is one of the most vital functions of “big government,” which is why Mitt Romney wants to eliminate it. At a Republican primary debate last year, Mr. Romney was asked whether emergency management was a function that should be returned to the states. He not only agreed, he went further.
vlrqwer Wrote: Oct 30, 2012 11:24 AM
“Absolutely,” he said. “Every time you have an occasion to take something from the federal government and send it back to the states, that’s the right direction. And if you can go even further and send it back to the private sector, that’s even better.” Mr. Romney not only believes that states acting independently can handle the response to a vast East Coast storm better than Washington, but that profit-making companies can do an even better job. He said it was “immoral” for the federal government to do all these things if it means increasing the debt.

Hurricane Sandy disrupted normal trade in the markets Monday morning, adding confusion to markets as prices moved lower in overseas trading. 

Gold started off flat to slightly down by $4.84 to $1,708.75 and silver was off $0.37 to $31.67, for a silver/gold ratio of 53.9. 

European stock markets hit the skids again today, losing almost another full point to start the week.  The dismal performance of European equities sent the euro lower against the dollar, which put downward pressure on commodities pretty much across the board. 

Gold and silver were joined lower by platinum,...