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Gold's Beating May Be Nearing an End - Bloomberg Intelligence

It has been an awful summer for gold. And just when things could not get any worse for the yellow metal, prices dipped below $1,200 an ounce in early trading Monday morning -- a nearly 1.5-year low.

So does this mark the final leg down and the end of the pain for many gold investors?

“Someday, at some point, it will happen,” said Mike McGlone, commodity strategist for Bloomberg Intelligence in an interview on Friday. “Have we reached the point of maximum loss of faith? We may be pretty close,” McGlone added.

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MARKET SUMMARY

INDICES

Name Last Change
DOW 26657.00 0.94%
S&P 500 2930.75 0.78%
NASDAQ 8028.23 0.97%
TSX 16214.75 0.40%
TSX-V 720.25 0.00%

Resource Commodities

Name Last Change
Gold 1209.24 0.17%
Silver 14.38 0.42%
Copper 2.72 0.010
Platinum 836.50 0.01%
Oil 70.80 0.45%
Natural Gas 2.98 2.28%
Uranium 27.25 0.29%
Zinc 1.09 0.00%

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