Bullish on bullion



Amid the pessimistic start to the New Year, which saw faltering capital markets, further massive losses among investment banks and increasingly vocal predictions of a looming global recession, the gold market has emerged as one of the few beneficiaries of the gloomy financial outlook.

Bullion made headlines in January after hitting a series of record highs in the early part of the year. The active month gold futures contract for three-month delivery on the New York Commodities Exchange (Comex)

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