25
November
Gold gains for eighth session as ETF holdings rise (GoldCore Quoted)
25 November 2009 MarketWatch
Gold futures closed higher for the eighth session in a row Tuesday, as an increase in gold holdings backing the largest exchange-traded fund suggested continued investment demand ahead.
Holdings in SPDR Gold Shares, the biggest gold exchange-traded fund, stood at 1,121.46 metric tons, up nearly 4 metric tons from 1,117.49 on Friday.
...
"While gold is overbought in the short term it is behaving like a stubborn mule that refuses to go down," said Daniel Stoke [sic], an analyst at GoldCore, in a note.
"A variety of concerns continue to support gold and these include worries regarding the sustainability of the economic recovery, both in China, the U.S. and in other leading industrial nations, [and] the weakening dollar."
http://www.marketwatch.com/story/gold-rises-further-as-gdp-revision-hits-dollar-2009-11-24
