NYMEX CBOT CME CME Group
Gold Market Recap Report for 10/13/2008

Clearly the flight to quality let down was more significant to the gold trade than the potential benefit of a weaker US Dollar. Perhaps the gold market on Monday didn't see the Dollar action as part of a sustainable trend, but it was somewhat surprising that the market was so willing to embrace the European and UK bank actions as a major step in the right direction. In the end, the safe haven/flight to quality angle dominated but many traders suggested that the real proof on the ending of the crisis will only come after an extended period of financial sector calm.




 
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