The yellow metal was firmer through much of....>

GOLD: The yellow metal was firmer through much of early Europe and reached highs

of $1269.34 as a risk off theme prevailed through the markets. Into NY the

bullion slipped and gave back some of its earlier gains reaching $1265.52 before

bouncing near $1265.45 the 76.4% fib ($1264.24-$1269.34).

- Price slipped from $1267.95 to $1264.47 as the dollar got a small boost after

release of in-line US ADP Employment data (190k).

- Bullion spiked higher to $1268.60 from $1263.28 as US Tsys yields sunk lower

before price faded back to around $1265.50. Traders were left scratching their

heads for the precise reason for the temporary blip in the precious metal.

- Headlines out of the US relating President Trump saying that the US recognises

Jerusalem as Israel's capital and a long-shot impeachment bid against him, which

was rejected by the US House failed to make a major impact on gold.

- Next area of technical support after today's intra-day lows of $1262.61 is

visible at $1261.04 (Dec05 low).