With a minimal higher high for the move in the dollar overnight, combined with residual hope of ongoing US debt ceiling negotiations, the bear camp in gold has the initial edge.

Apparently, the gold trade sees an ultimate solution to the US debt ceiling battle with the odds favoring an increase in the debt ceiling and little if any work on the deficit.

Furthermore, gold ETF holdings yesterday declined again this time by 68,837 ounces leaving the year-to-date gain at only 0.2%...[MORE]

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