Clearly, the gold market has seen the bull camp revitalized by signs of a resumption of the dollar downtrend and has managed the rally despite evidence of a decline in Chinese October net mainland gold imports through Hong Kong.
Therefore, the gold trade continues to focus on dollar and interest rate action at the expense of classic internal supply and demand developments.
In fact, while the story should be regarded as "old" the trade continues to pound the drum on an on-hold global central bank theme...[MORE]
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