Gold Fundamental Analysis October 2, 2012, Forecast

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Despite the recent strength in the U.S. Dollar since mid-September, gold has remained relatively strong. This is because gold is being treated as both a reserve currency and as an investment. Since the U.S. Federal Reserve and the European Central Bank both applied fresh stimulus to the market in early September, there has been a bid under the market. This is one of the reasons why gold reached a new high for the year on Monday. As long as there is demand for risky assets and investors are willing to give up the safety of the U.S. Dollar, look for gold to remain firm on Tuesday. 

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About: FX Empire Analyst - James Hyerczyk

James A. Hyerczyk has worked as a fundamental and technical financial market analyst since 1982. His technical work features the pattern, price and time analysis techniques of W.D. Gann.

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