The trend for the bullion in much of Europe....>

GOLD: The trend for the bullion in much of Europe was higher. Gold appreciated

nearly six dollars against the greenback as the risk off tone permeated through

the market. As New York came into the fray price action has been largely

sideways. The precious metal was sitting around the day's high of $1286.25.

- After initially dropping to $1284.58 following slightly better than

expected US Retail Sales data, XAU spiked to fresh highs of $1289.61 as Dow

futures dropped sharply and a quick reversal in the USD.

- The precious metal dropped sharply to $1282.71 after making highs earlier of

$1289.45. This move lower was order driven.

- The yellow metal drops rapidly from $1281.20 to $1276.80 as the 10-year UST

yield moved higher and dollar rose against a basket of currencies.