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02 July 2010

Suprise Euro bounce puts Gold at six week lows

Physical Gold bargain hunters see opportunity

Gold put the clock back six weeks yesterday in a sharp drop attributed to a bounce in the value Euro on the back of favorable economic news from the ECB.

The volume of Gold and Silver Price comparisons were up at on Thursday as bargain hunters fished for opportunities, while fixed price items have not yet adjusted to the new price level.

Non auction 1 ounce gold bar premiums were at 20.71% on Friday Afternoon, reflecting the lag in market rather than elevated demand. Non auction 1 ounce silver bar premiums were as high as 73% on Friday Afternoon, also reflecting the lag in market.

With Gold and silver steady on Friday, we expect to see further bargain hunting into the weekend focused on auctioned Gold and Silver Bullion items.

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