Gold is still very much in vogue. Even though we had a pullback on what looked to be profit-taking, there was still some buying underneath the market. I think on any type of weakness, you're going to see some managed-money interest.
More Quotes from Jim Quinn:
We're seeing price swings that we haven't seen in decades. We used to see a 6 range in gold over a week, and now we see it in a single day. The gold market is really going to be in play over the course of the year.Jim Quinn
We played with that 600 level. I think the market's inability to get back above it early today - with the weaker energy and stronger dollar - all contributed to a little profit-taking.
Jim Quinn
It's all off of oil and we saw that spot metal was weak this morning so it looks like futures are trying to catch up.
Jim Quinn
We had a little flight-to-quality interest because of Iran. If we didn't have the Iran news underpinning the market, the stronger dollar would probably have had more of an impact on the metals trade.
Jim Quinn
If they couldn't make good on some coffee contracts, prices might go up.
Jim Quinn
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