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15 to 30 minutes old www.usagold.com --LIVE NEWS--
At brink of ‘cliff,’ economy rallies	19:09 The Washington Post
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
IMF warns French economy vulnerable to downturn	19:02 The Economic Times - International Business
Former chamber building to house economic initiative	19:00 Augusta Chronicle, Georgia
US Dollar rises on 'fiscal cliff' concerns	19:00 China.org.cn - Markets
Weekly inflation posts nominal increase	18:53 The News International - Business
Govt trying its best ‘to keep dollar under Rs 100’	18:43 The Nation - Business
Weekly inflation goes up	18:43 The Nation - Business
Maple syrup value sweeter than crude oil, gold	18:38 Vancouver Sun
1 to 2 hours old www.usagold.com --LIVE NEWS--
Signs suggest a better economy if ‘cliff’ is averted	18:34 The Salt Lake Tribune, Utah - Money
Consumer Spending Spurs Forecasts for Faster Growth	18:25 The New York Times - Technology
Standalone silver project shaping up for Endeavour Silver in Jalisco state, Mexico	18:24 Mineweb
Forex: The EUR/USD closes the week below 1.3200; Time for bears?	18:06 FXstreet - Forex News
BOJ chief bows to pressure on Abe's inflation target	18:04 Asahi Shimbun - Business
Move along, inflation watchers, nothing to see here	17:54 The Globe and Mail
Guest Post: The Unadulterated Gold Standard Part 3	17:51 Zero Hedge
Bullish on Texas Industries	17:44 The Globe and Mail
2 to 4 hours old www.usagold.com --LIVE NEWS--
The End Game For The Euro Rally	17:32 SeekingAlpha - Macro View
Gold rises on 'fiscal cliff' impasse	17:15 UPI - Consumer Health Daily
Now, a multi-currency prepaid travel card	17:07 Rediff.com - Business
IMF Says Turkey’s Central Bank Should Focus on Inflation Control	17:04 Bloomberg - Regions
Haiti Awards Gold, Copper Mining Permits	16:51 The Street - Markets
Top business story in '12: Sluggish global economy	16:46 6 News, Michigan - Business
METALS OUTLOOK: Gold Eyeing Support At $1,636/Oz	16:44 Forbes
Signs of economic strength suggest US recovery could gain in 2013 if 'fiscal cliff' is averted	16:29 Orlando Sentinel, Florida
Signs suggest better economy if ‘cliff’ is averted	16:26 Daily Herald, Illinois - Business
US dollar up as euro slips on 'fiscal cliff' concerns	16:26 Channel NewsAsia
City hires from within for economic development director	16:23 Gainesville Sun, Florida - Business
Shilling Steady Versus U.S. Dollar	16:22 AllAfrica.com
Consumer spending in U.S. increases as incomes rebound	16:12 The Daily Star, Lebanon
Euro stocks fall as Republicans scrap tax vote	16:12 The Daily Star, Lebanon
VC in 2013: Asheem Chandna of Greylock on the ‘Trillion Dollar Opportunity’ for Investors	16:08 WSJ: Venture Capital Dispatch (Weblog)
Gold from the Non U.S. Dollar Perspective	15:57 The Market Oracle - Personal Finance
Why QE3 is so Bullish for Silver	15:57 The Market Oracle - Personal Finance
Veris Gold Corp. approves Shareholders Rights Plan Agreement	15:53 PR Newswire (Press Release) - Financial Services
Tax and economy hit French joie de vivre	15:53 FT.com
75 Economic Numbers From 2012 That Are Almost Too Crazy To Believe	15:51 Zero Hedge
Savannah port strike could hit Georgia economy	15:50 The Atlanta Journal-Constitution - Print Edition
Canada's inflation rate cools to 3-year low of 0.8%	15:39 CBC.ca
Economy looks good, as long as it isn't tossed over 'fiscal cliff'	15:38 Contra Costa Times, California - Business
Douglas County launches appeal of Sterling Ranch ruling	15:38 Bizjournals
4 to 6 hours old www.usagold.com --LIVE NEWS--
Utah back to creating jobs at pre-recession rate	15:33 The Salt Lake Tribune, Utah - Money
Iraq boosts gold reserves by 25 tonnes	15:32 FT.com - Markets
CANADA STOCKS-TSX ends flat as RIM buckles, gold miners bounce	15:31 Reuters - Economy
Dollar rises on budget deal worries	15:26 Tuscaloosa News, Alabama - Business
Gold, silver rise as stocks and crude oil fall	15:26 Tuscaloosa News, Alabama - Business
News Summary: Precious metals rise, oil falls	15:26 Tuscaloosa News, Alabama - Business
Keeping Them Honest: How I Lost Money with Gold in 2012	15:24 The Motley Fool
NYMEX-Crude ends lower as fiscal deal expectations fade	15:23 Reuters - Funds
Signs suggest better economy if 'cliff' is averted	15:21 Anchorage Daily News, Alaska - Money

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