The yellow metal spiked higher to $1286.31.....>

GOLD: The yellow metal spiked higher to $1286.31 in early Europe, as market

sources reported approximately 3k contracts bought near the $1282 level. After

paring some of the gains price steadied, trading around $1283.74.

-Received a lift to fresh intra-day highs $1286.87 as the dollar weakened on

soft US Durable Goods data. The move upwards was helped by 10Y UST yields coming

off its intra-day peak.

-The yellow metal continued its upward trajectory as it printed new intra-day

highs of $1288.65. As the 10Y UST yield fell and the dollar weakened sharply the

bullion did not hesitate to keep up its buoyant tone.

-Price printed a new intra-day highs of $1292.67 as a mild risk off tone took

shape. US Tsys yields and Usd/Jpy were sharply lower.

-The release of the FOMC minutes which did show concerns over inflation, however

a December hike still on the cards. The price went onto print fresh highs of

$1293.55.