Ole HansenOle Hansen , Head of Commodity Strategy, Saxo Bank
Denmark, 14 August 2012 at 13:03 GMT+0
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Gold dropped pretty hard following stronger than expected US retail sales with stops below 1605 triggering a big jump in traded volumes. On previous occasions over the last week we have seen small sell-offs being met by willing buyers. The stronger than expected data could reduce the potential for further stimulus which could trigger some headwind for gold nearterm. Platinum holding up relatively well in line with my previous squark.

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Saxo Bank provides an execution-only service. The material on this website does not contain (and should not be construed as containing) investment advice or an investment recommendation, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Saxo Bank accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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