Both spot gold and silver were up a fraction on what Reuters describes as “bottom-picking” following two down days, but gold’s rally was said to have “faded after data showed U.S. manufacturing output rose at its fastest pace in more than two years in the second quarter,” and following a talk by Dallas Fed President Richer Fisher in which he said that the Fed was “likely” to start raising interest rates early next year. Over at Bloomberg things were shinier for gold as it highlighted a report that Indian imports surged 65% year-over-year in June.
See also:
The Gold Report: Editor- Upward trend a silver investor’s friend
Mineweb/GATA: Bulls might take heart from latest gold smashdown failure; The more obvious they are, the closer the day of deliverance
Bullion Bulls Canada: The end of the paper-gold market?
Zero Hedge/CSM: Shocking first – Mainstream media rushes to defend dollar reserve status; Can BRICS development bank become a rival to the World Bank?
Jesse’s Café Américain/Nanex: The stock market is rigged, with details
Wall Street on Parade: Sen. Warren lets Yellen know she’s had it with Fed’s charade about too big to fail