Gold Update
Gold has come under increased selling pressure going into lunch in response to extended USD strength as the USD Index has shaken off earlier weakness to gain 0.4%. Gold appears to be headed for a re-test of the 800 handle after trading consistently higher than 820 overnight. Gold is down 1.1% to 807.90 and continues to be held below the 9-day moving average just under 820. Gold is in line with coincident lows from the end of November and will continue to take a tip from USD this afternoon.