No Glitter

10/27/2008 8:32 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

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As a result of the panic liquidation of financial instruments, many thought that gold might be a safe haven. That has not been the case as Dec. Gold rallied to $936 three weeks ago before reversing sharply. The support at $740-$760 was violated last week with next support in the $630 area.

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