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Tough year for coffee farmers as Euro crisis lowers prices	07:45 The East African - Business
China turns corner on economy	07:41 Gulf News - Business
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Gold ends on promising note ahead of Dhanteras	07:40 The Economic Times - Economy
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Mining news summary including Lonmin, London Mining, Condor Gold, Frontier Mining and SolGold	07:07 Proactiveinvestors
Gold, silver continue uptrend; 'Dhanteras' demand weighs	07:02 Deccan Herald - Business
A Train Ride From Washington To New York Reveals What's Wrong With The Economy	06:49 Business Insider - Finance
Sterling Bank Pledges Support for MFBs	06:49 AllAfrica.com
Forex reserves plunge $20.32bn to $294.34bn	06:47 The Times of India - International Business
Gold uptrends; Dhanteras demand weighs	06:47 The Times of India - International Business
Mike Brown	06:41 Orlando Sentinel, Florida
Forex reserves plunge a steep $20.32 bn YTD	06:39 MoneyControl.com
I didn't sell family silver, I embellished it: Vijay Mallya	06:35 Rediff.com - Business
Lakers "Plan B" Solidified Well Before Firing Mike Brown	06:14 Forbes.com - Leadership
2 to 4 hours old www.usagold.com --LIVE NEWS--
Forex reserves plunge a steep $20.32 bn to $294.34 bn YTD	06:04 The Economic Times
Forex reserves plunge a steep $20.32 bn to $294.34 bn	05:49 The Business Standard
Business Confidence Index: Increase in hiring on the cards for UAE	05:43 Emirates 24/7 - Columns
Rules must change if euro to last another 10 yrs, Weidmann	05:30 AGI.it - Sport
China turns corner on economy with new leaders	05:19 The Economic Times - Economy
Super taxes on the wealthy may destroy Euro recovery	05:16 Royal Gazette - Personal Finance
China turns corner on economy as Communist Party chooses new leaders	05:14 The Economic Times
Profit Confidential Expert Reports: Latest Housing Data Suggest U.S. Economy in …	05:14 Yahoo! US - Business - Press Releases
Who will be President Obama's Treasury secretary?	04:59 MoneyControl.com
China turns corner on economy as party chooses new leaders	04:51 Reuters.com - Regulatory News
UBS: 1000% Inflation Is Perfectly Acceptable...	04:48 Business Insider - Finance
RTC Has Significant Impact On Rural Economy - Najib	04:40 Bernama - Malaysian National News Agency
Official says China’s slowdown has ended but economy not ready for recovery	04:32 The Washington Post
Reddit Set To Prove A Business Point With Gold Investment	04:25 Forbes.com
QE gilt interest receipts will go to Treasury to reduce deficit	04:18 MyFinances.co.uk - Loans & Credits
Four Bullish Trends	04:14 Barron's Online
Emerging-Market Bonds: Dollar-Denominated or Local?	04:10 Barron's Online
4 to 6 hours old www.usagold.com --LIVE NEWS--
Gold ends on promising note ahead of Dhanteras, Diwali	03:55 The Hindu - Markets
Sign Petition Opposing Co-Chairman of the Catfood Commission, Erskine Bowles, as Treasury Secretary	03:55 naked capitalism
Rwanda urban inflation falls to 5.36 pct in October	03:47 Yahoo! US - Business
Buy MCX Gold Dec around Rs 31300-31350; SL Rs 31000: Angel	03:28 MoneyControl.com
Heavy lending creates a surge in Chinese economy: Official data	03:24 The Economic Times
Local college cross country: Silver Lake runners compete at Nationals	03:12 Manitowoc Herald Times Reporter, Wisconsin - Business
Chinese economy showing signs of a debt-fueled recovery	03:11 The Economic Times - International Business
China’s economy surges amid heavy state lending	02:55 Arkansas Democrat-Gazette - Business
Rosy economic data greets China's new era	02:21 Business Times Online - Stock Markets
China economic growth to exceed 7.5 pc in 2012	02:13 Khaleej Times - Business
Copper price trades lower on reduced offtake	02:13 Indian Express
China says effectively turning the corner …	02:12 Yahoo! India
6 to 8 hours old www.usagold.com --LIVE NEWS--
Euro Loses Most in 4 Months Against Yen on Fiscal Cliff, Greece	02:05 Bloomberg - Economy
Walter Martinez Named Regional Manager at Sterling Associates	02:03 Yahoo! US - Business - Press Releases
Copper trades lower on reduced offtake	02:01 The Economic Times - Markets
China economic growth to exceed 7.5% in 2012: NDRC	01:37 The Business Standard
Jerry Brown's vision reaffirmed by state voters	01:36 Woodland Daily Democrat, California - Business
China economic growth to exceed 7.5 pct in 2012 - NDRC	01:28 MoneyControl.com
China's economic growth to exceed 7.5 per cent in 2012: NDRC	01:21 The Economic Times - International Business
China says effectively turning the corner on the economy	01:21 Reuters - Business

>Gold Poised for Higher Weekly Close

by Peter A. Grant

Nov 09, AM
(from USAGOLD.com) --

Gold is modestly higher as the week winds down, and appears poised for its first weekly higher close in five weeks after bouncing smartly from in front of the 100-day moving average.The outside week (lower low, higher high) is also seen as a generally favorable technical event.

Gold is maintaining gains above the $1700 level, despite fresh nine-week highs in the dollar index above 81.00. Gold also seems to have decoupled from the US stock market, which has been under significant pressure this week. It would seem gold is reverting to its more traditional role as a safe-haven asset.

While activity in the dollar index is more about euro weakness than actual dollar strength, it may still be a short-term limiting factor on the upside for the yellow metal. The recent inverse correlation between the dollar and gold is undoubtedly triggering computer generated sell orders in the gold market, but seasonal pressures and investors' desire for a true safe-haven seem to be overwhelming this shorting.

With the distraction of the US election now behind us, it is dawning on investors that nothing really has changed. Focus has shifted to the 'fiscal cliff' and a looming debt ceiling debate, all of which pose risks for another downgrade to US sovereign debt. A new report by the CBO says that failure to address the 'fiscal cliff' specifically would drive the US back into recession in 2013, sending the unemployment rate back above 9% by next fall.

Meanwhile, the situation is Europe is deteriorating once again, as it becomes evident that the latest measures to mitigate the EU debt crisis accomplished nothing more than buying a little time. While Greece's coalition government succeeded in passing new austerity measures this week, there is still little hope that they will hit their troika mandated targets.

"This is a developed world in crisis. It's the US, it's Europe, it's Japan," said former ECB chief Jean-Claude Trichet this morning on Bloomberg. He went on to add that the euro and the ECB are "credible," but stressed that central banks cant substitute for governments. Yet in the absence sound fiscal policy, may simply not have any choice, if they are to fulfill their mandates; up to the point where monetary policy alone simply doesn't work any more and that central bank credibility crumbles.

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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>Gold Poised for Higher Weekly Close