gold

Gold traded sideways on Friday but stops got triggered at $ 1700 this morning in Far east and market dropped quickly down to $ 1685.00. Next support lies at $ 1675. Strong USD and weak commodities caused the sell off. Physical demand should support the market at theses levels. In the news: Gold bar and coin demand in Europe was strong at 118 tons in the third quarter, shows data from World Gold Council. They expect buying from central banks to continue and to reach 450 tons this year. The ECB said, it would offer banks unlimited cash for three years.