Gold Is Flying!
January 11th 2010 01:24
From Mover Mike
Is it the devaluation of the Venezuela currency by 50% or something else that has Gold up $19.10 to $1,156.80 in pre-market trading?
UPDATE: MarketWatch reports
Commodities are also getting a big boost from Chinese trade data, said Potter.
"China's import and export numbers smashed expectations," Potter said.
In particular, "China's iron-ore imports for December were the second highest on record," he said, adding that "these numbers could really help boost the big miners" and that the data are "further evidence the global economic recovery is gaining momentum."
Is it the devaluation of the Venezuela currency by 50% or something else that has Gold up $19.10 to $1,156.80 in pre-market trading?
UPDATE: MarketWatch reports
Commodities are also getting a big boost from Chinese trade data, said Potter.
"China's import and export numbers smashed expectations," Potter said.
In particular, "China's iron-ore imports for December were the second highest on record," he said, adding that "these numbers could really help boost the big miners" and that the data are "further evidence the global economic recovery is gaining momentum."
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