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The gold market action Thursday was a little impressive as macro economic uncertainty seemed to be on the wane again. However, at times the gold market seemed to be able to benefit from the possible improvement in the US economy. Some futures traders indicate that buyers were looking beyond the better than expected 2nd and 3rd tier readings because the Friday morning payroll report would have the final say on the flight to quality question. On the other hand, improved sentiment would seem to reduce the potential volatility in gold prices in the wake of the Friday morning numbers. News of rising South African gold production probably wasn't lost on the market but recently this market hasn't been paying that much attention to the actual physical supply side of the equation.
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