With a two-day high-to-low swing in December gold of $38 the gold trade appears to be indecisive with respect to the near-term trend.

However, outside market action from the dollar and treasuries has flipped positive which has served to temper long liquidation from the delay of the Israeli ground offensive.

Apparently, the IDF has settled on continued bombardment against suspected Hamas strongholds perhaps because of the threat of retaliation from several Arab terrorist groups...[MORE]

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