News Headline Summary

A big move to downside has been observed in spot Gold of around USD 17 from USD 1735 to USD 1718

Update details:

- Some early volatility at the Comex open as gold markets come to terms with the recent macro developments and with concerns surrounding the fiscal cliff.
- As a reminder the November futures Gold contract expires today, but heavy volume still remains in the December. Yesterday Dec Gold options expired.
- Coinciding with Gold weakness, the USD index is trading around highs up 0.25% at 80.57 last.
- Some large stops went through in Gold futures with around 35K sold from 1735 to 1711, equivalent to 3.2mln ounces.

**UPDATE 1338** some desks are noting a fat finger was occurred at a large US bank.

Print 13:25, 28 Nov 2012 - Market Analysis - Source: Newswires