It`s not a rush to safeheaven. Gold falls and it`s below the very important psycological support at $1300! People thought that if we saw a shutdown then the strong support at $1300 would be a great chance to buy, but that is not the case now.
So far, silver is down 3,5%, with copper and other base metals drops about 2%. China is a big buyer and they have holiday all this week, and that is a huge lack of demand. People seems to be interesting in raising cash too.
Gold is below the 100 day moving average ($1339), and silver is also below the 100 day moving average ($21,52). Next levels for the gold is $1290 and if that is broken, the next level is $1271. December Comex gold was last down $37.40 at $1,289.90 an ounce.
Today, I will look at these news: ADP Non-Farm Employment Change at 8:15am, Crude Oil Inventories at 10:30am, Fed Chairman Bernanke Speaks at 3:30pm
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