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Mid-Session Gold Market Report for 11/21/2008

The gold market seemingly exploded back to life and managed the rise in sync with gains in the rest of the metals markets. While the stock market at times seemed to take the latest news on Citigroup as a positive, some in the metals trade were attempting to spin the Citigroup story into a fresh flight to quality story. However, with copper and platinum also managing some strength today, the more plausible story might be that the Citigroup developments could end up as a positive for the overall global macro economic outlook. In any regard, the gold market is seemingly managing to rally persistently despite constantly shifting outside market influences. News that Australia is suspending certain gold coin sales due to supply and demand issues is perhaps another element that could be lending new found buying interest toward the gold market.




 
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