Friday, December 11, 2009

Gold price takes hit as greenback firms

Strong jobs data in the United States, leading to a rebound in the greenback has seen the gold price pulled back as much as $80 an ounce after powering beyond the 1200 an ounce mark last week.

After a month of successive all time highs, gold succumbed to a sell off driven by better than expected US employment data, which pushed the U.S. dollar higher.

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