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Gold Opens Lower Ahead of July 4th Holiday

Written By Luke Burgess

Posted July 2, 2009


Gold prices opened lower this morning below $935 an ounce as the US dollar found strength ahead of the July 4th holiday in America. Markets are thin today, as many had already abandoned their desks early to headed for the nearest cookout.

Gold for August delivery was last seen at $933.30 an ounce, down $8 from this morning’s open. Silver prices were also down $0.31 to $13.44 an ounce while oil fell to $67.68 a barrel and the US Dollar Index rose to 80.505

Traders may be a bit reluctant to be long commodities ahead of tomorrow’s market closure, but this mornings jobs figure may force an adjustment in thinking.

— Luke Burgess