Precious Metals - Asian & India - UUP - EFSF

by cfini72 on Oct 10, 2011

Gold is up nearly 2 percent as Chinese buyers ... who have been on a national week-long holiday ... went back to the market this morning. Indians also picked up their gold buying as they approach their yearly Diwali festival. Gold is also getting a lift from a falling dollar. The greenback tumbled this morning after leaders of Germany and France said Sunday they plan to work together to protect the continent's banks from a Greek default. They didn't offer any details but the fact that they were meeting ... and the fact that they made an upbeat statement after yesterday's meeting ... encouraged the markets. European stocks are up ... as is the euro ... and the U.S. dollar is down sharply.

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