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Forex: EUR/USD building on Moody's-driven gains; 1.31 option barrier history	18:03 FXstreet - Forex News
US currency manipulation report pushed past election	18:01 Steel Business Briefing
5 to 10 minutes old www.usagold.com --LIVE NEWS--
Peso appreciates to 4-year high	17:59 ABS-CBNNEWS.COM - Business
Strong Dollar Dents Coca-Cola’s Profit	17:58 The New York Times - Technology
Growth hit more by inflation than cuts	17:58 City AM
Tourism growing at slower rate than rest of Hawaii economy	17:55 Honolulu Pacific Business News
OBR report shows Chancellor's austerity plan is a massive failure	17:55 Trades Union Congress (Press Release)
10 to 15 minutes old www.usagold.com --LIVE NEWS--
Economic Scene: U.S. Economy Is Doing Well Compared With Other Nations	17:53 The New York Times - Technology
Coca-Cola Earnings Dented by a Strong Dollar	17:53 The New York Times - Technology
Income Inequality May Take Toll on Economic Growth	17:53 The New York Times - Technology
Euro Touches Month-High on Spain Optimism Before Summit	17:52 Bloomberg - Regions
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Euro Extends Gains After Moody's Affirm Spain Ratings	17:48 CNBC.com - Currencies
Aust economy to pick up, index shows	17:43 The Age
Two reports paint brighter economic picture	17:39 St. Petersburg Times, Florida
Post economic slowdown, salaried man becomes the most sought after customer for banks	17:39 The Times of India - Banking & Finance
Profit warning at GKN on poor Euro markets	17:38 City AM
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Forex: NZD/USD should remain heavy; AUD/NZD not supportive - BNZ	17:33 FXstreet - Forex News
Colombian Stocks Climb Led Ecopetrol; Peso Weakens Slightly	17:28 Fox Business - Industries
BHP Says September Iron Ore Output Flat, Copper Up	17:21 CNBC.com - Asia
Euro summits tend to follow clear patterns	17:20 City AM - Investments
Navarre Minerals finds more gold near Bendigo	17:19 Proactiveinvestors - Australia
Germany steps up call for currency commissioner	17:13 The Irish Times - Business
China And The Recipe For $12,000 Gold	17:12 Forbes - Home Asia
Europe crisis spurs shift of gold to Asia: Deutsche	17:11 Business Times Online - World
Currency moves trim IBM revenues	17:10 FT.com - Special Reports
1 to 2 hours old www.usagold.com --LIVE NEWS--
U.S. Dollar, Bonds Reverse Course: Scenario For Year-End Upheaval?	17:04 SeekingAlpha - Macro View
‘QE only benefits the financial sector, not wider economy’	17:02 Pensions Age - Features
Vietnam Economic Ascent Threatened as Middle-Income Trap Looms	17:00 Bloomberg - Economy
Phoenix Gold moves to 100% of the Kalgoorlie West Gold Project	16:58 Proactiveinvestors - Australia
Euro Accelerates To 1.3100	16:54 SeekingAlpha - Macro View
World facing a ‘dangerous’ economic cocktail: OECD	16:54 Gulf Times - Finance & Business
Mild consumer price increases, rising builder confidence add to US economic growth	16:54 Orlando Sentinel, Florida
Gold lifts from 1-month low as euro, stocks rise	16:48 Daily Times - Business
NZ inflation lowest in 13 years, rates on hold for longer	16:48 Daily Times - Business
British annual inflation slows to near 3-year low	16:48 Daily Times - Business
Gasoline fuels inflation, but Fed policy seen steady	16:48 Daily Times - Business
Robust US retail sales lift Asian markets	16:48 Daily Times - Business
Euro rallies on Spain speculation	16:48 Daily Times - Business
Nepalese envoy seeks to boost economic ties with Pakistan	16:48 Daily Times - Business
FOREX-Euro extends gains after Moody's affirm Spain ratings	16:43 Reuters.co.uk - Currencies - US Dollar
Gold Star families take a 'Leap of Faith'	16:37 The Leaf Chronicle, Tennessee - Sports
Brown & Toland Physicians and Cigna Announce New Accountable Care Initiative for PPO Patients	16:35 PR Newswire (Press Release) - Health
Japan PM plans new economic stimulus by end-Nov: Kyodo	16:33 Business Times Online - Asia
Forex: AUD/USD, stops at 1.0295, descending trendline done	16:33 FXstreet - Forex News
Euro, global stocks up on data, U.S. …	16:31 Yahoo! India
Jobs go at Alacer Gold	16:30 The West Australian - Business - National
BHP September quarter iron ore output flat, copper up	16:28 Chicago Tribune - Business
Gold futures rebound in thin trading	16:28 Business Spectator
Euro, global stocks up on data, U.S. earnings	16:23 The Business Standard
IBM Revenue Falls Short With Weaker Euro, Hardware Sales	16:19 Bloomberg - Technology - Enterprise Tech

Morning Snapshot

by Peter A. Grant

Oct 16, AM
(from USAGOLD.com) --

Gold is rebounding, spurred by a weaker dollar and renewed optimism that Spain will soon request a bailout. We've heard that before. But while things might look brighter on the Spanish front, there are reports circulating that troika talks with Greece have broken down.

According to Bloomberg: A second meeting between the heads of the EU-IMF troika mission in Athens and Greek Labour Minister Yiannis Vroutsis on Tuesday afternoon ended abruptly a few minutes ago, after the two sides hit deadlock for the second time in the same day.

The euro has backed off its highs on the news, but gold has proven more resilient. The small gap left on Monday at 1749.15/1752.18 is likely to be a short-term attraction and a decisive push through this area would ease pressure on the downside.

• US Total Net TIC Flows rose to $91.4 bln in Aug, vs upward revised $74.0 bln in Jul.
• US NAHB homebuilder index ticked up to 41 in Oct, in line with expectations, vs 40 in Sep.
• US industrial production +0.4% in Sep, on expectations of +0.3%, vs negative revised -1.4% in Aug; cap use 78.3%.
• US CPI +0.6% in Sep, above expectations of +0.5%, vs +0.6 in Aug; core +0.1%, +2.0% y/y.
• UK CPI Core +2.1% y/y in Sep, vs +2.1% y/y in Aug.
• UK retail price index +0.5% m/m in Sep, vs +0.4% in Aug.
• UK PPI - Input (nsa) -0.2% m/m in Sep, vs negative revised +1.9% in Aug; -1.2% y/y.
• UK PPI - Output (nsa) +0.5% m/m in Sep, vs +0.5% in Aug; +2.5% y/y.
• Eurozone CPI +0.7% m/m in Sep, on expectations of 0.8%, vs +0.4% in Aug; +2.6% y/y. Core +1.5% y/y.
• Germany ZEW economic sentiment improved to -11.5 in Oct, above expectations of -15.0, vs -18.2 in Sep. Current situation 10.0.
• New Zealand Q3 CPI +0.3% q/q, vs +0.3% in Q2.

Peter Grant is USAGOLD's resident economist and a well-known analyst globally in the forex and precious metals markets.

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Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

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