Possibly, however with the Fed meeting a week away the USD is resilient.
Worth noting that as of Tuesday(ie yesterday), the Chinese can buy gold bars from a Chinese bank.Also the Central Bank of Russia is very bullish on gold for 2004.
It defies logic that the June inflationary figures will not again be higher, with oil remaining high and further pressures associated with a growing economy.
Gold however is very robust at these levels and a breakout before the fed meets could occur
gold rising again, page-2
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