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Good Morning Gold - October 31, 2013

Good Morning Gold - Thursday, October 31, 2013

Gold is down in early Thursday morning trading and last traded at $1,326.50, Silver trading down at $22.09, Platinum last traded down at 1,458.00 and Palladium trading down at $738.60.

Traders and investors are bearish after the FOMC meeting ended on Wednesday. A more positive attitude seems to be coming out of the U.S. government and in the FOMC statement on Wednesday, the Fed said the U.S. economy has made improvements in recent months. This positive statement by the Fed has led traders to new speculation about the market place and the QE tapering of the monthly bond buying program could end sooner than expected.

Reports overnight said demand for physical in India is slow, despite the festival season approaching. The Diwali festival of lights is on Sunday, and reports coming from India say demand for gold is down do to the higher tax rates on gold imports and the weakness in the Indian currency.

Look for choppy trading today as this is the last day of the month and is expected to be a very active trading day, as traders try to put last minute trades on the books for September.

-- Robert Burnside, Director, Precious Metals Department, DGSE Companies, Inc.

Certain statements made within this article may contain forward-looking statements.  These forward-looking statements or information include, but are not limited to statements or information with respect to financial disclosure, estimates of future production, the future price of gold or other commodities, estimations of mineral reserves and resources and metallurgical recoveries, estimates of anticipated costs and expenditures, development and production timelines and our goals and strategies.

Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those described in forward-looking statements and information, there may be other factors that cause actual results, performances, achievements or events to not be as anticipated, estimated or intended. Also many of the factors are beyond our control. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipate in such statements. Accordingly readers should not place undue reliance on forward-looking statements or information.

Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in the U.S. All forward-looking statements and information contained on this website are qualified by this cautionary statement.


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