GoldCore Precious Metals Update

Gold: Gold’s correction has been quite sharp but giventhe extent of the rise since mid April (from $864/oz to over $980/oz or over13% in just 6 weeks) it is not unexpected. A 50% retracement of sharp ralliesis quite common and yesterday’s lows of $925/oz is very close to an exact 50%retracement. While the dollar has rallied in recent days on soothing comments by the some ofthe US largest creditors (Chinese and Russian officials), concerns regardingthe dollar and a possible downgrade of

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