Commodities - Technical Analysis

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Saturday, October 6, 2007

Bullion

Gold futures went on a roller-coaster ride with the euro Friday, first tumbling with the single European currency after a stronger-than-expected US jobs report but soon shooting higher again.

December gold rose $3.40 to $747.20 a troy ounce on the Comex division of the New York Mercantile Exchange. More significantly, it closed up $15 from an early-day electronic low of $732.70.

As pit trade was closing, the December contract at the Chicago Board of Trade was up $3.60 to $747.20. Comex December silver fell a penny to $13.49, but bounced from a low of $13.31. Shortly after it closed, CBOT December silver was down 0.2 cent to $13.494.

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