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Slight Rally for Gold

Stock quotes in this article: NEM , FCX , GLD , IAU  

Updated from 12:58 p.m. EST

Gold bounced slightly Monday, but following last week's plunge some market watchers were bracing themselves for another potential drop.

Contracts for February delivery of gold rose $2.50 to close at $609.40 an ounce on the Nymex. The bullion holding exchange-traded funds, streetTRACKS Gold Shares(GLD Quote) and the iShares COMEX Gold Trust(IAU Quote), followed suit, each adding about 0.5%.

Despite the minirally, investors would do well to act with caution, because at least one key technical indicator has turned particularly bearish. ...

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Dow Jones S&P 500 NASDAQ 10-Year Note
10,309.92 1,091.49 2,138.44 32.31
Oil *
77.12
DOWN
154.48
DOWN
19.14
DOWN
37.61
DOWN
0.48
10 Yr
3.23%
SPDR Gold
115.06
-1.48%
-1.72%
-1.73%
-1.46%
Data delayed 20 minutes

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