Metals traders are awaiting two key speeches later Thursday from President Barack Obama and Federal Reserve Chairman Ben Bernanke. [Stock ETFs Rally Before Obama Speech on Stimulus Hopes]
“Concerns over the U.S. slipping into recession and Eurozone debt woes are likely to come back into focus after tonight’s [Obama] speech, which should prompt a return to safe-haven buying,” Standard Bank said in a note, FastMarkets reported.
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Full disclosure: Tom Lydon’s clients own GLD.