Gold and silver daily commentary (October 07, 2010)

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By Nell Sloane With equity markets in Asia and in Europe generally stronger this morning, U.S. stock indices are trading moderately higher during the early Wednesday trade. The Dollar is slightly stronger against most of the major currencies again during overnight trading, although with a small loss versus the Yen. The ruling party in Japan is creating an extra fiscal stimulus budget, in reaction to yesterday's monetary easing move by the Bank of Japan. The head of the IMF warned that nations who use their currency to boost domestic growth would undermine the global economic recovery. The Chinese Premier called on the EU to treat the Yuan exchange rate issue "objectively and fairly". Euro zone GDP rose 1.0% during the second quarter, in line with forecasts and at the highest level of growth for 4 years. Today's major US economic indicators include several private surveys of US Employment released during the morning action.
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