
GOLD: Spot gold is closing around $1203.00oz,(-$23.63, -1.93%) near the lows of
the day's range of $1244.85 to $1196.98. The focus remains on a move to the next
larger area of support, which comes in around $1157, the lows from late July
2010. Currently it is heading for one of its worst quarters on record having
begun April at $1600, and has now declined this quarter by almost 25%. Today's
losses stem from investors continuing to liquidate positions as fears of a full
blown financial crisis recede, with confirmation today of better than expected
US data. Additionally various Fed speakers whilst saying that perhaps the
markets had over-reacted to Bernanke's comments, did confirm that they saw an
ongoing improvement in the economy with unemployment continuing to gradually
decline.