Safe Haven Demand Temporarily Wavers

Precious Metals Weekly (04/13/2009)
"The gold price declined 1.5% last week to $879.35 (Thursday) on temporary wavering of the safe-haven gold trade, and a rally in the U.S. dollar and broader financial markets. The Commitment of Traders speculative net long positions (reported based on last Tuesday’s closing figures) decreased 18.3% to 137,473 contracts down from 165,767 the week previous.

The S&P/TSX Global Gold Index decreased 5.2% last week to 290.

The Sr./Int. P/NAV decreased by 2.8% to 1.42 (@5%/spot gold), and is within our expected (1 standard deviation) range of 1.37-1.65."

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