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Precious metals up on wedding season demand, global cues	05:50 Indian Express
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Inflation remains primary concern for RBI: Subir Gokarn	05:32 The Economic Times
Inflation remains primary concern for RBI: Deputy governor	05:28 The Times of India
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WPI inflation lacks welfare aspect: Gokarn	05:15 The Business Standard
Inflation remains primary concern for RBI: Gokarn	05:12 The Hindu Business Line - Industry & Economy
Triple-dip recession alert after "dire" industrial figures	05:07 MyFinances.co.uk - Cut Your Bills
1 to 2 hours old www.usagold.com --LIVE NEWS--
Gold, silver extend gains on retail buying support	04:16 The Economic Times - Markets
Wedding season rise up prices of precious metals	04:05 The Hindu - Business
Dollar 1bn needed to complete Neelum-Jhelum project	03:57 The News International - Business
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Gold down for second consecutive week	03:50 Gulf News - Business
Dollar rises for third day against euro	03:50 Gulf News - Business
Dollar climbs on jobs data	03:48 Khaleej Times - Business
Gold, silver up on wedding season demand	03:45 The Economic Times - Markets
Gold, silver up on wedding season demand, firm global cues	03:44 The Economic Times
Fuel economy push goes mainstream	03:36 St. Petersburg Times, Florida
Pioneer Credit Union to accept Brown Co. tax payment	03:08 Green Bay Press Gazette
U.S. economy adds 146K jobs in November	02:46 Reno Gazette-Journal, Nevada - Local Business
The week that was: FDI gets nod while economy faces downgrade warning	02:29 MoneyControl.com
Who Will Be the Next Treasury Chief?	02:03 Barron's Online
Earlier Today www.usagold.com --LIVE NEWS--
Weak economy quashes hopes of 9% growth: TN Srinivasan	01:48 MoneyControl.com
Inflation of One Per Cent in November	01:29 AllAfrica.com
The 6 Economic Facts of Life in America That Allow the Rich to Run off with Our Wealth	01:05 AlterNet.org - Economy
Galvan Week Ahead: Chancellor persecutes middle classes, pensioners, Amazon, Google and Starbucks.	01:00 Proactiveinvestors
Commodities: Gold set to slide; bearish set-up for silver	00:58 MoneyControl.com
Rupee corner: A sharp decline on FDI impasse; may test 53	00:58 MoneyControl.com
Bullish on US, see Santa Claus rally ahead: Richard Ross	00:48 MoneyControl.com
Gold-Forex Correlations: Gold Link Weak Again on Fundamentals, Expectations	00:43 Daily FX
A week in gold: Bulls still upbeat despite mixed signals	00:30 Proactiveinvestors
Heated debate The costs of climate change can be mitigated if economic activity moves in response 45	00:20 The Economist - Business and Finance
Tilloi Tojik intends to develop new gold deposit	00:14 Asia Plus
6 to 8 hours old www.usagold.com --LIVE NEWS--
Finance professionals most positive on UAE economy	23:39 Middle East North Africa Financial Network
Intertec now Cisco's Gold Partner in Gulf	23:39 Middle East North Africa Financial Network
DWTC's 2011 events generate Dh6.5b for Dubai's economy	23:39 Middle East North Africa Financial Network
Gold and diamonds festival across GCC	23:39 Middle East North Africa Financial Network
Sudan government unable to manage economy says ex-finance minister	23:25 Sudan Tribune - Economy
Forex: Dollar’s Rally with EUR/USD will Fail Without Company	23:23 Daily FX
Hank Fishkind: Health care act will boost state economy	23:16 Florida Today
‘Fiscal cliff’ taints economic reports	23:01 The Detroit News - Business
'Fiscal cliff' taints economic reports	23:00 The Detroit News - Business
Forex Analysis: Australian Dollar Eyes China Data, Risk Trends for Cues	22:52 Daily FX
Forex Analysis: Dollar Will Struggle to Climb with Fed, Fiscal Cliff Ahead	22:52 Daily FX
Forex Analysis: Euro Jolted by ECB Rate Cut Rumors – Data Offers Little Clarity	22:52 Daily FX
Forex Analysis: Gold Struggles Ahead of FOMC Meeting- Policy Outlook To Drive Prices	22:52 Daily FX
Turkish bank plans to issue $300m sukuk	22:46 Trade Arabia - Miscellaneous
Why Gold Stocks Look Good	22:35 The Wall Street Journal - Market News
Euro Falls First Time in 4 Weeks as ECB Lowers Economic Outlook	22:26 Bloomberg - Worldwide
Germany may see recession in 2013	22:21 News4Jax.com, Florida - Money
Italy’s economy: Monti’s medicine Mario Monti has restored Italy’s credibility but much more must be done to restore its fortunes 6	22:20 The Economist - Economics
US economy adds 146,000 jobs; rate falls to 7.7 percent	22:02 The State, South Carolina - Metro
Yesterday www.usagold.com --LIVE NEWS--
ECB in 'very serious' debate on cutting interest rates next year	21:54 The Irish Independent - European Business news

Gold Snaps Back From Early Losses

by Peter A. Grant

Dec 06, AM
(from USAGOLD.com) --

Gold snapped back from an early sell-off to regain the $1700 level. The yellow metal initially fell to a new 4-week low at 1683.60 after better than expected headline data in the November nonfarm payrolls report tempered expectations of further Fed accommodations. Nonfarm payrolls rose a better than expected 146k and the unemployment rate dropped to 7.7%.

However, after closer examination of the data, it became evident that this wasn't a great jobs report after all. Back month revisions showed there were 49k fewer jobs in the past two-months than previously reported. Additionally, the labor force contracted by 540k, perhaps reflecting renewed pessimism about finding a job. Additionally, the University of Michigan consumer sentiment index tumbled to 74.5, its lowest reading since August. It was a huge miss, given that expectations where 82.8.

The mixed bag of data and ongoing concerns about the fiscal cliff and debt ceiling made the early sell-off in gold a pretty appealing buying opportunity. The range low at 1672.68 (04-Nov) remains intact, as focus now turns to next week's FOMC meeting. There are pretty high expectations that the Fed will announce it intends to restart outright Treasury purchases after Operation Twist concludes at the end of the year.

If we drop over the fiscal cliff at the end of the year as well, and it looks like another recession is in the offing, the Fed would likely step up and heap additional accommodations of some sort on top of that even. More debt, more dollar, more QE; these are some of the key factors that have driven gold markedly higher over the last dozen years. With no sign that this is going to end any time soon, I would offer that the long-term underlying uptrend in gold isn't going to end any time soon either.

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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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