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06-28-2009, 09:05 PM #1
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China Worries As US Prints Dollars On Massive Scale
China Concern at U.S. Printing Dollars on a Massive Scale
Commodities / Gold & Silver 2009
Jun 25, 2009 - 06:58 AM
By: GoldCore
Gold - Gold is trading at $933.50 and remains subdued overall. Near term resistance and support are currently $944 and $913 respectively. Direction may be poised to come from EUR/USD moves and the EUR/USD is maintaining equilibrium despite a positive world economic outlook from the OECD. This positive news is paired against continuing geo-political risk and negative USD comments overnight from a senior Chinese official.
The Head of the Economics Department of the ruling Communist Party research office said that “The US is printing dollars on a massive scale, and in view of that trend, according to the laws of economics, there is no doubt that the dollar will fall. So gold should be a better choiceâ€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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