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The Open - Jim Wyckoff

Gold Down Amid Bearish Outside Markets

(Kitco News) - Nymex crude oil futures prices are lower today on profit taking and a corrective pullback after hitting a six-week high on Friday. Meantime, the U.S. dollar index is firmer on a corrective bounce after hitting a seven-week low last Thursday. World stock markets were mixed overnight in quiet, late- summer trading. The "dog days" of summer are here. Many traders in the Western Hemisphere are on vacation. Markets could be quieter until after the U.S. Labor Day holiday in early September.

By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com
Follow Jim Wyckoff @jimwyckoff

 

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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