7
July
Gold Prices Settle Down Double Digits (GC in The Street)
7 July 2010 The Street
Gold prices were plummeting double digits Tuesday as investors resumed trading after the long holiday weekend and dumped gold for stocks.
...
Gold prices closed below the $1,200 level and many analysts are now looking for prices to retest $1,180 an ounce. "Below $1,200-an-ounce gold could fall to support at $1,175 an ounce and $1,140 an ounce," says Mark O'Byrne, executive director of GoldCore, a international bullion dealer. "A fall to such low levels would likely be paper driven ... but gold would be well supported at these levels ... [as] significant physical demand recommences."
http://www.thestreet.com/story/10799473/2/gold-prices-settle-down-double-digits.html
