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Market Pulse: Precious metals close storming month on a high

Monday, January 30, 2012 - 03:31

Jan. 31 - Gold and platinum gain more than 10% in January on U.S. growth worries.

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Precious metals on track to close a storming John -- on a high gold impossible up today and both up more than 10% this month. This is today's market pulse. Well what are you it has been so far from gold even Melissa policy from the Fed and ECB together with slowing growth on the world has fueled strong the mind. For more I'm joined by Amanda took up two -- at the top of the Reuters global gold photo Amanda -- nice to have you on. I'm broad based demand for gold ETS speculators jewelry demand from Asia clearly seeing that most. Well I think there's been sort of a combination on the evidence we have so far this year is that investors aren't getting back into gold albeit at a more modest pace than it gets within the and -- the middle of last year. But so with the traders and analysts that we talked to reporting good to launch in China. All the C ongoing evidence of central by purchases of gold which have been keeping their support as well as you mentioned as infants and he TX and rising and interest in gold futures. So that when buying with a the next points than -- tough points on the site. Well I think the good good good hit the next big political that they could go to B 1750 -- now has 1750. And then deal or not they're probably looking at about 1717 which marks as a key. Technical level on the charts. And beyond Maxwell. And I'll pull out last week suggests that a lot of people are looking not just for -- highs again this year but possibly into 2000 dollars an -- at some point. 2000 almost wealth and we'll send it wasn't so long gold and bullish gold. The obvious question is is that a risk of a pullback and -- so. We -- on the points in the charts on the on the times right. Well and the people we told to say that is set he liked to that we could see a modest correction in the coming days and weeks especially given the yet things that we had so far in January. That is evidence that they should be good consume a two month securely in India coming in the next 17100 which should inflate the price a little bit. And ultimately -- Gaza -- remain protected tuna. An extent from the -- pledge from the Federal Reserve and the ECB to -- keep rates at you know accommodate his levels. So I -- corrections like him an expectation is most like difficult to continue to this time. And how much not just that showing up here initials positioning while longer it's not extremely long as. Not exactly and has been building that since the start to see it that is remains a long way off from where it was in the runup to this record highs that we sort lost he is so I think expectation among analysts at least is for that other positions to continue to build them for going to have more Skype on the upside. Okay and finally and so plots an amount which is doing even better than gold this month some sixty percent. I'm in fact they got -- short it's -- second best month in bowl 25 years. Where we had its own on Putnam officials have been very. Trusting this month an elite eight not quite badly last year based on -- thing you took two months and have rising supplies from such talk a -- such as South Africa. And while the expectations for -- to a month remains this year we've seen disruptions to supply in South Africa be it through labor shortages. Four her -- rule action or supply shortages that have helped boost the price. And the expectation and analysts is -- for any kind of runaway. Increase in the -- price but suddenly at peak of feeding a lot more friendly to -- what's. And they happen. -- thank you very much. What was today's market policy do you join us each day -- made the AT&T plus snapshot of all the big market trends and -- I'm Jamie give up this is what --

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Market Pulse: Precious metals close storming month on a high

Monday, January 30, 2012 - 03:31