Gold Dips

Gold and Precious Metals Weekly (08/17/2009)
"Gold prices decreased last week to $948.55/oz (from $954.95/oz) on U.S. dollar strength and a larger-than-expected drop in U.S. consumer prices, signaling low inflation expectations. Reported speculative net long positions decreased to 198,740 from 204,175 contracts the previous week. SPDR Gold Trust holdings fell to 1065.49 tons from 1,068.90 tons the week before.

The S&P/TSX Global Gold Index decreased 1.0% last week to 304.

. . .The Sr./Int. P/NAV decreased by 2.1% to 1.47 (@5%/spot gold), within our expected (1 standard deviation) range of 1.37–1.64."

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