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Gold Is Surging

Jan 30, 2013, 19:47 IST

The knee-jerk market reaction to today's unexpected contraction in fourth-quarter U.S. GDP was selling. Risk assets dropped immediately on the release, and gold, Treasuries, and the U.S. dollar spiked higher.

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Now, risk assets are recovering their losses, and bonds and dollars are going back down.

Gold, however, keeps going higher. It topped out at $1682 and is trading just above $1680 right now. It was trading around $1665 before the GDP announcement at 8:30 AM.

Now, it's up 1.1 percent on the day after struggling in the past few sessions (click to enlarge):

Thinkorswim

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Click here for details of this morning's GDP release >

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