Early European trade saw the precious metal....>

GOLD: Early European trade saw the precious metal drift from its session highs

of $1259.16 to print a session low of $1253.46. The move coincided with a early

demand for dollars from European investors, the dollar turned as profit takers

emerged, gold followed suit grinding towards $1258 in early NY.

- The precious metal drops from $1257.00 to $1254.35 in reaction to better than

expected US Retail sales data.

- As the dollar gets a lift, following dovish comments from the ECB Draghi, the

precious metal has followed suit dropping to fresh session lows of $1253.01.

- A fresh wave of dollar demand as US Tsys Yields firmed, saw renewed pressure

on the precious metal with the price dropping to fresh session lows of $1250.55.

- Bullion gets a lift as the USD losses ground across the board, following

hawkish comments from BOC Poloz. The price jumped towards $1255.50 before

fading.