As London came back from a holiday, the dollar was down and oil was up. You saw buying return to the physical market, and that's why we entered the day higher. After we saw the dollar down and oil firming, that drew some further fund buying.
More Quotes from Dave Meger:
Everybody seems to be talking about the strength in the dollar. That gave an impetus for some profit-taking in the gold today.Dave Meger
We opened the day stronger and continued a little higher, and then as a slight surprise to some, ended up holding the positive tone throughout the day - whereas sometimes on days like this in the past you've given up the bulk of those gains. Silver, speci
Dave Meger
We see the writing on the wall of some changes that could be taking place in the copper market. However, at this point, we're not necessarily at a point where we can call for that yet.
Dave Meger
We had some early fund buying this morning. And we had some midday trade buying.
Dave Meger
I didn't see one boat out there. It definitely wasn't fishing weather.
Dave Meger
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