fmx | metals | connect - Gold pares gains after ECB holds rates

Categories:: None

Tools

follow FMX on

Data Reports:: market snapshot; energy >> crude report; energy >> options report; energy >> natural gas report; commodities >> metals report; weather >> full report

<< 2012 Gold Price Forecast Review | In The Lead with Jon Nadler: Who Needs Crab-Fishing When You Can Drive A Lambo? >>

Gold pares gains after ECB holds rates

October 6 2011, 09:55

FMX|Connect- WWW.FMXConnect.com (Reported on 10/6/2011)

Gold pares gains after ECB holds rates

Source: Reuters

Gold pared gains on Thursday after the European Central Bank held interest rates steady despite speculation in some quarters for a growth-boosting cut, but was supported by a stock market rally which cut selling of the metal to cover losses elsewhere.

Spot gold was at $1,640.59 an ounce at 1209 GMT, little changed from the level it traded at late in New York on Wednesday, but off an earlier high of $1,654.55. Trade is expected to be cautious before the ECB press conference later. To read the full article, Click Here.

To view our metals reports and articles on your PDA or mobile device, click here.

-----

About FMX: FMX Connect is an information, data, and analytics portal for Commodities. The portal provides an all-in-one package including essential market data, independent third party research, industry news, and commodity trading tools. FMX Connect provides efficient, effective, and thorough data that bridges all aspects of commodities onto one screen. The Result; A user friendly application for hedge fund traders, OTC brokers, individual investors, and industry participants.

Note: The information presented, while from sources generally believed to be reliable, is not guaranteed and may not be complete. FMX | Connect makes no representations or warranties regarding the correctness of any opinions or information. Past results are not necessarily indicative of future results. Nothing in this report should be construed as a representation to buy or sell shares, futures or options, which contain considerable risks. For internal client distribution only. Any reproduction, re-transmission, or distribution of this report without permission is prohibited. Media correspondents or reporters may not quote any one page or section in its entirety and must attribute all quotes, ideas or concepts herein. Copyright FMX | Connect, ©2009-2010. All rights reserved.