cbwang888 (25.84)

Gold down 1% to $1225/oz

June 09, 2010 – Comments (0) | RELATED TICKERS: GLD , SLV , GDX

This is a just profit taking action by traders, not long term safe haven investors.

Chinese exports news is good for commodities, including precious metals.

Now China may soon begin to unplug the lock of Chinese Yuan to USD, which is also bullish for gold. China is the 2nd largest gold consuming country.