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Spain Denies Bailout Story, Gartman Says "Everyone Needs to Own Gold"

SPOT MARKET gold prices rallied to $1781 per ounce ahead of Wednesday's US session, recovering from slight losses earlier in the day to stay in line with recent trading, while stock markets were broadly flat and the Euro reversed earlier gains, as analysts speculated on when and whether Spain will request a bailout.

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Rome is Burning

Spot gold dealings started the Tuesday New York session off on the downside, with the yellow metal losing $7.00 and being quoted at $1,547.50 per ounce. The US dollar remained above the 76.00 mark on the trade-weighted index. (2 days ago)

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