Metals – Market Recap – Sep 29,2009

Bloomberg (Reported 9.29.09):
“Sept. 29 (Bloomberg) -- Gold fell in New York as a stronger dollar cut investment demand for the precious metal. Silver sank.

The dollar climbed as much as 0.6 percent against the euro, touching a two-week high, as evidence economies have yet to shake off the worst effects of the global recession spurred demand for the safety of the U.S. currency. Gains in U.S. equities helped limit gold’s losses. ” Gold Declines in N.Y. as Dollar’s Gain Pares Investment Demand

Reuters (Reported 9.29.09):
“LONDON (Reuters) - Gold recovered from earlier losses on Tuesday but analysts expect the generally higher dollar to weigh on sentiment and possibly trigger a further sharp sell-off.

Spot gold was bid at $990.10 a troy ounce at 1432 GMT from $989.95 late in New York on Monday. Earlier it hit $984.90, not far from Friday's $984.70, the lowest since September 10.” Gold steady, further losses on the cards

NS Futures (Reported 9.29.09):

“The short term trend is expected to remain down…” Full Report