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January 31, 2006
Precious metals softening ahead of Fed, Tues., Jan. 31, 2006, 12:26 PM
Gold and Silver futures are off their best levels of the day. This move is in line with expectations that the Fed will raise rates by 25 basis points at 2:15pm ET.
There is a lot of news out today re the Fed (Greenspan's last), Iran (warnings to the U.N.), and the State-of-the-Union address tonight. Traders are nervous.
But the TSX goldminers (XGD) is red lining it, with the price currently at a fresh high of 73.89, up +3.8 pct on the day.
Posted by Posted by Bill Cara on January 31, 2006 12:26:17 PM | Category: Gold