In lackluster Asian and European sessions,.....>

GOLD: In lackluster Asian and European sessions, the precious metal traded in a

tight range between $1275.22-$1279.66. The sideways trading is similar to that

of the dollar, which also remains largely unchanged with Dxy at 93.93.

- Bullion moved towards session highs of $1279.66 as 10-year UST yields fell.

The price moved from 1277.13 to 1279.09.

- Spiked to fresh intra-day highs of $1281.39 as initial jobless claims in

October came out weaker than forecast at 249K as opposed to median forecast of

235K. As bullion moved higher 10-year UST yields and Dxy both dropped.

- As industrial production numbers came in better than expected surging to

+0.9% vs +0.5% expected the yellow metal moved lower giving back earlier gains.

Bullion dropped from $1280.60 to $1276.87 before bouncing back.

- Bullion printed a new intra-day high of $1281.82 as the 10-year UST

yield continued to slide from its highs. The dollar was weaker against a basket

of currencies measured by the Dxy at 93.86.