While #gold and #silver should draft support from positive Chinese economic data released overnight, we leave the edge with the bear camp.
However, support at the $2000 level could be solidified by reports overnight that within the sharper-than-expected jump in Chinese retail sales were signs of increasing interest in gold jewelry.
Unfortunately for the bull camp investment outside of China was soft yesterday with gold ETF holdings falling by 66,464 ounces pushing the year-to-date decline to 0.4%...[MORE]
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