Dovish rhetoric from Fed Clarida and...........>

GOLD: Dovish rhetoric from Fed Clarida and Williams led to rising expectations

that the Fed could ease monetary policy by 50bps. Global equities rallied with

the dollar pressured across the board.

- Gold spiked to multi-year highs of $1453.09, but has since retraced light

gains after the NY Fed clarified Williams comments by saying they were not

indicative of the Fed's future moves.

- The yellow metal trades off its best levels of the session, last $1442.1.

- Gold breached and closed above the triangle top which is seen as a

continuation pattern and opens the potential of a return to the 50% retracement

level of the Sep 2011-Dec 2015 decline at $1483.8. Expect further resistance

behind on approach to the psychological $1500 round number.

- Michigan Sentiment the main highlight in the US today. Speeches also scheduled

from Fed's Bullard & Rosengren before next week's black out period.