The precious metal continued its recent........>

GOLD: The precious metal continued its recent theme of being the new king in the

European morning with the rate price grinding from the European low of $1294.81

to $1297.60, as the dollar continued to lose ground across the board.

- The arrival of NY saw another round of demand with the price printing a new

high of $1297.71.

- With the talk of large dollar selling at the London 4PM fix, traders chatter

is the price could test the reported resistance at $1300.00.

- Gold continues its dominant tone and adds more weight on the dollar, with

another round of gold demand the price broke the $1300, printing highs of

$1300.36. 

- The yellow metal continues to be in high demand as investor continue to sell

dollars, the price has spiked to a new 6 week high of $1303.98 before losing

some momentum and dropping back towards $1301.50.

- The yellow metal gets a further lift into the early NY close with the rate

spiking to session highs of $1305.43 before dropping back towards $1304.50.