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Dollar Traders Watch EUR/USD, AUD/USD After Overnight Risk Plunge	22:57 Daily FX
3D Resources boosts Cosmo Newbery gold exploration with new tenement acquisition	22:56 Proactiveinvestors - Australia
5 to 10 minutes old www.usagold.com --LIVE NEWS--
Modest recovery in gold, silver slips further	22:54 The Financial Express - Commodities
Forex: GBP/USD support at 1.6230 next level to watch – V.Bednarik	22:50 FXstreet - Forex News
10 to 15 minutes old www.usagold.com --LIVE NEWS--
Don't go overboard with your investments in glittering gold	22:49 The Economic Times - Personal Finance/ Savings
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Dollar fades on US stalemate	22:42 WA Today - Business - National
Rupee falls on share weakness; U.S. …	22:37 Yahoo! India
Conference Board Leading Economic Index: Six-Month Growth At Zero	22:35 ForexPros.com
Euro falls, yen rises as Boehner drops 'fiscal cliff' plan	22:32 The Economic Times - Markets
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Alicanto Minerals to acquire prospective South American gold projects	22:26 Proactiveinvestors - Australia
Markets extend losses on US recession fears	22:23 The Business Standard
One or more year of strong rupee gains for IT companies: P Phani Sekhar	22:20 The Economic Times - Markets/Analysis
Wishing Upon Abe 120 Weak-Yen Policy Seen as LDP Returns	22:19 Bloomberg - Markets - Currencies
Forex Flash: Top 5 FX picks for 2013 – NAB	22:10 FXstreet - Forex News
Amid demand for US Dollar, Rupee lost 35 paise	22:10 The Hindu - Markets
Wine Gifting Bounces Back from Weak Recession Sales - The International Wine of …	22:09 Yahoo! US - Business - Press Releases
LME ASIAN WRAP: Copper up on short covering; tin falls from nine-month high	22:08 Metal Bulletin
Rupee down by 35 paise	22:07 The Times of India
Rupee Leads Weekly Drop in Asian Currencies on U.S. Budget Woes	22:06 Bloomberg - Markets - Emerging Markets
Rupee falls on share weakness; U.S. 'fiscal cliff' weighs	22:01 Reuters - Business
Molten gold signals revival in Calif. Mother Lode	22:01 The News Journal, Delaware - Business
Rupee breaches 55-level against US dollar, down 35 paise	22:00 The Financial Express - Banking & Finance
1 to 2 hours old www.usagold.com --LIVE NEWS--
Rupee breaches 55-level; down 35 paise	21:56 Rediff.com - Business
FOREX-Euro falls, yen rises as Boehner drops "fiscal cliff" plan	21:55 Reuters - Economy
Gold near four-month low on US budget talks standoff	21:54 MoneyControl.com
Rupee falls on share weakness; US 'fiscal cliff' weighs	21:54 MoneyControl.com
Markets extend loses on US recession fears	21:53 The Business Standard
NZ dollar heads for 1.9pc weekly fall	21:50 TV3 News - Business News
Exports and state spending help US economy beat expectations	21:50 The Irish Independent
Housing Poised to Bolster U.S. Growth as Sales Rise: Economy	21:49 Bloomberg - Markets - Currencies
Rupee breaches 55-level against dlr; down 35 paise	21:47 The Economic Times - Markets
Rupee plunges to 55.13 on uncertainty over US fiscal cliff	21:43 The Hindu Business Line - News
Rupee breaches 55-level against dollar; down 35 paise	21:42 The Economic Times - Markets
NZ dollar heads for 1.9 percent weekly fall	21:41 TVNZ - Business
Rupee breaches 55-level against dollar, down 35 paise	21:41 The Business Standard
NZ dollar falls as Republicans call of fiscal cliff vote	21:39 Scoop - Business
Central bankers rethink their devotion to slaying inflation	21:36 South China Morning Post - Money
Is gold's bull-run over after 12 years of gains?	21:36 Rediff.com - Business
Yen up in Asia on expected BoJ easing, US fiscal woes	21:31 The News International - Business
Gold near four-month low on U.S. budget …	21:29 Yahoo! India
Gold near four-month low on U.S. budget talks standoff	21:24 MoneyControl.com
Is gold’s bull-run over after 12 years of gains?	21:19 Indian Express
Japanese investors skirt euro woes with Polish bonds	21:14 Reuters - Economy
Sensex slips 100 pts on weak Asian cues; Rupee below 55/USD	21:13 MoneyControl.com
Gold near 4-month low on US budget talks standoff	21:12 The Economic Times - Markets
Dollar worries	21:09 Al-Ahram Weekly - Economy
Economy on the brink	21:09 Al-Ahram Weekly - Economy
Gold Poised for Worst Week in Six Months on U.S. Budget Talks	21:08 Bloomberg - Regions
2 to 4 hours old www.usagold.com --LIVE NEWS--
Rupee opens lower at 54.98 per US dollar today	20:53 MoneyControl.com
A Gold Hoarder's Legacy	20:52 Business Week - BW Magazine

Gold Dives Deeper into Range

by Peter A. Grant

Dec 20, AM
(from USAGOLD.com) --

Gold came under renewed selling pressure on Thursday, weighed by a bigger than expected upward revision to U.S. Q3 GDP, which diminished the yellow metal's appeal as a safe-haven. Gold fell to a new four month low, pushing below the 200-day moving average and leaving the market fully entrenched in the lower half of the $400 dollar range that has dominated for the past year.

The third report for U.S. Q3 GDP came in at 3.1%, on expectations of 2.8% and 2.7% previously. With Fed QE now tied to employment, better than expected economic growth raises the possibility that the Fed may be able to remove extraordinary accommodations ahead of schedule. Right now, Fed central tendencies suggest the potential for the jobless rate to dip below the targeted 6.5% level sometime in 2015.

We've seen these kinds of so-called "green shoots" in the past (remember the "recovery summer" of 2010?) only to have harsh reality settle back over markets. With the fiscal cliff still looming and our national debt near the $16.4 trillion ceiling, there's plenty to still be worried about on the recovery front. The Fed has already committed to $85 bln in asset purchases per month beginning in January, so their balance sheet is headed toward $4 trillion. Even if we were to reach 6.5% unemployment in say late 2014, that balance sheet would be well in excess of $4 trillion by then.

As a result of this debasement, the dollar has come under pressure, dropping to new eight-month lows against the euro. The dollar index has fallen back to 79.00, levels not seen since mid-October. While the dollar and gold have become correlated in recent weeks, the more traditional relationship tends to be inverse. Once the short term speculators are flushed out of the paper market, we anticipate that gold will rebound. Physical buyers have already been taking advantage of these lower prices We've seen this play-out time and time again throughout the secular bull market.

Note: I will be on holiday beginning 21-Dec. This page will not be updated in my absence. Please see our Breaking Gold News page for updates. Merry Christmas and Happy New Year to all.

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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 Dives Deeper into Range