GOLD SETTLES $5.80 LOWER… ($1647.00)
Today’s December Gold Futures contract produced a $24.40 trading range with a high of $1666.90 and a low of $1642.50…Traders continue to eye all the relevant news flowing out of European Union as it appears to vary minute to minute. It is my personal opinion traders are trading with extreme caution prior to the upcoming Brussels summit this weekend. All 17 Euro Region Finance Ministers will meet to discuss and decide the direction of the European Union. France and Germany have literally been carrying Europe and indications are they will set the agenda for this meeting. As I mentioned yesterday the meeting will take place while Wall St. and the Asian markets are closed. The summits results could certainly affect the Worlds markets significantly in either direction depending on the news.
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