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Bull market outlook for rubber	21:26 Business Times
Sanjay Sanghoee: Bankrupt Politics: The Republican Plan to Kill Our Economy	21:25 The Huffington Post
Euro doomsayers adjust predictions after 2012 apocalypse averted	21:19 The Financial Express - World
FX-Won sees best year vs dollar since 2009, Asia FX outlook rosy	21:19 The Financial Express - World
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Indonesia Had Likely Posted a Trade Deficit In November	21:15 Jakarta Globe - Business
Euro doomsayers adjust predictions after apocalypse averted	21:12 ABS-CBNNEWS.COM - Business
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Platinum Tax Defenders Announces The Offering Of A New Service That is Helping …	20:30 Yahoo! US - Business - Press Releases
Forex reserves down by $92.8 mn	20:28 Business Today - Economy
Indian rupee recovers	20:27 Times of Oman
Since Governor Jerry Brown Has Granted 79 Pardons on Christmas Eve, Now Is The …	20:10 Yahoo! US - Business - Press Releases
The Ten Most Outrageous Economic Calamities of 2012	20:05 AlterNet.org - Economy
2 to 4 hours old www.usagold.com --LIVE NEWS--
Smeda completes project for economic recovery in 29 districts	19:17 The News International - Business
Rupee gains	19:17 The News International - Business
‘Economic mismanagement poses threat to country’s survival’	19:17 The News International - Business
Japanese data shows more economic gloom	18:52 The Peninsula - Business
Spain sees ‘very tough’ economy	18:41 The Peninsula - Business
Norma Brown	18:40 Register-Pajaronian, California - Agriculture
Japan data shows more economic gloom	18:37 The Nation - Business
No change to new currency launch date	18:29 Fijilive - Business
Yen hits 2-year low, Nikkei set for best year since 2005	18:16 Asahi Shimbun - Business
Austrian School of economic thought gaining influence as nations tackle debt	18:14 The Economic Times - International Business
Europe's Economic Woes Hit Champagne Market Hard	18:14 The Huffington Post
Bullish on Masco	17:57 The Globe and Mail
Exporters in Madhya Pradesh hail Centre’s move on rupee export credit	17:55 The Times of India
December inflation likely quickened, but within target	17:52 ABS-CBNNEWS.COM - Business
4 to 6 hours old www.usagold.com --LIVE NEWS--
Economy to shuffle along as before in 2013	17:42 Irish Examiner
Ireland can benefit from booming Chinese economy	17:42 Irish Examiner
Stalled pipelines cast shadow over Canada's economy	17:38 The Globe and Mail
TSMC Is Bullish On Itself For 2013 Chip Revenue	17:16 Investors Business Daily - Investing
Robust domestic demand, investments to bolster economy	17:11 The Star Online
Gold, sliver slide Friday	17:06 UPI - Quirks
Economic, political woes fail to quell investor spirits	17:05 CBS.com - Moneywatch
Yen rebounds slightly against dollar	16:55 Channel NewsAsia - Business
The Short Side: Dollar Tree Head-And-Shoulders Chart	16:45 Investors Business Daily - Investing
US Treasury bond market at a glance	16:34 St. Paul Pioneer Press, Minnesota - Business
US housing, factory data point to momentum in economy	16:27 Business Times Online - World
Veris Gold Corp. Announces Re-Pricing Of Warrants	16:23 The Street - Markets
U.S. Doesn't Need Washington for Economic Stimulus	16:15 Slate - Business
The Republic of Samsung: South Korean conglomerate dominates nation's economy	15:57 Chico Enterprise Record, California - Business
The innocence of childhood has been squandered by mindless violence and economic idiocy that cast a cloud	15:53 FT.com - Global Economy
Bullish On RIM? Cover Yourself With Call Options	15:51 SeekingAlpha - Long & Short Ideas
6 to 8 hours old www.usagold.com --LIVE NEWS--
GLOBAL MARKETS-Stocks drop, dollar up as 'cliff' deadline looms	15:43 Reuters - Economy
S&P, Already Bearish, Doesn't Dwell On The 'cliff'	15:43 The Street - Markets
NYMEX-Crude dips as fuel stocks rise, budget concerns linger	15:23 Reuters - Economy
99 Dollar Tablets Are Here	15:23 The Street - Markets
Gold wanes but retains hedge appeal	15:21 FT.com - Companies A-Z
CME Lowers Gold Margin By 9%	15:12 Zero Hedge
Colombia Stocks Fall as U.S. Budget Talks Intensify; Peso Gains	15:10 Fox Business - Industries
Weak economic data bolsters Abe's hand on stimulus	15:01 Japan Today - Business
FOREX-Dollar edges higher on uncertainty about fiscal talks	14:58 Reuters.co.uk - Currencies - US Dollar

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