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South African Strike Positive for Gold despite Weak Physical Demand

By Ross Norman of Sharps Pixley | Wednesday 11 June 2014


 


The U.S. Comex gold futures have risen 0.61% this week to end at $1,260.10 on Tuesday on the back of the breakdown of the talk to end the South African miners strike and the precious metals group rally. The S&P 500 Index has been flat and the Euro Stoxx 50 Index has risen 0.59% during the same period. The Euro/Dollar has dropped 0.70% this week to 1.3547 on Tuesday while the Dollar Index has risen 0.51%. The U.S. ten-year government bond yield surged 6bp to 2.644% in the past two days.


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