Excerpt from: World Markets
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| November 30, 2009 | | Dubai fears ease, but gold has yet to recover from Friday's beating | Spread bets and CFDs on commodities should consider that gold prices are lower today. However, they are paring earlier losses as the news out of Dubai becomes less dire.
On Friday, the news that Dubai World was experiencing debt problems rattled financial markets and sent gold prices lower by more than $20 and ounce. Today, gold prices have struggled, losing as much as $6 an ounce, but closer to being down only by $1 an ounce right now.
The struggle for gold prices is supporting the U.S. dollar slightly in forex trading, allowing it to consolidate. Even though the UAE says it will prop up Dubai's banks, there are still concerns, and investors aren't quite ready to embrace the risk trade again.
| Topic Tags: CFDs, commodiites, contracts for differences, Dubai, gold prices, risk trade, spread bets, spread betting, U.S. dollar | |
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