In much of Europe and early NY the precious....>

GOLD: In much of Europe and early NY the precious metal traded weaker as dollar

strengthened on optimistic comments from Fed Chair Yellen and strong US economic

data.

- After reaching $1276.30, talk of Senator Collins saying she was 'not

committed' to vote yes on the tax bill pushed the yellow metal higher.

- The precious metal moved slightly higher from $1276.30 to $1281.60 as there

was broad based dollar selling ahead of the London fix at 1600GMT.

- Bullion raced lower from $1281.60 to $1270.42 printing fresh intra-day lows as

US Tsys yields spiked higher as a risk-on mood kicked in on speculation that the

US Senate will pass a GOP tax bill.

- Looking at the longer term picture price broke through technical support

around $1280.69 (base of a rising channel) in today's trade. This might explain

some of the sharp declines seen earlier during the day.