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Gold up on EU predictions and jobs expectations	19:34 Sydney Morning Herald - Business
Tina Brown Tells Her Newsweek Staff: 'The Sad Moment Has Arrived'	19:30 San Francisco Chronicle - Business
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Mack Brown endorsed by school president	19:27 UPI - Quirks
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Asean set for single economic block by Dec 2013	19:19 Asia News Network
ECB to hold fire on rates at final meeting of 2012	19:14 The News International - Business
Rupee recovers	19:14 The News International - Business
China to remain economic driving force - UK's ACCA	19:05 China Daily - BizChina
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Forex Flash: The new BoJ may set 95.00 as level of equilibrium; only 20% priced in USD/JPY? - Nomura	19:04 FXstreet - Forex News
FOREX: Ringgit Opens Slightly Lower Against Dollar	19:03 Bernama - Malaysian National News Agency - Markets
China Stocks Rise, Heading for Best Weekly Gain Since September	18:59 Bloomberg - Regions
DT's euro 30B Plan Wraps LTE With Vectoring	18:47 Lightreading.com
7 Ways Not to Buy Gold	18:46 Kiplinger.com - Technology
UBS bullish on China's prospects	18:45 China.org.cn - Business
Forex: EUR/AUD consolidating above 1.2350 in quiet Asia	18:44 FXstreet - Forex News
Forex Flash: Australia trade deficit widens in October - NAB	18:44 FXstreet - Forex News
$A higher despite weaker euro sentiment	18:41 WA Today - Business - National
Treasury Rally Leads Diam, Shin Kong Life to Sell	18:41 Bloomberg - Markets - Bonds
Australia trade deficit widest since early 2008	18:37 Reuters - Industry, Materials & Utilities
China vows to narrow tech trade deficit	18:35 China Daily - BizChina
1 to 2 hours old www.usagold.com --LIVE NEWS--
China pledges to narrow trade deficit in technology sector	18:35 China.org.cn - Business
Australia Trade Deficit Widens as Capital-Goods Imports Increase	18:32 Bloomberg - Economy
Some Gold Investors Want Their Own Fort Knox	18:28 The Ledger, Florida - Business
Eurozone told to brace for another year of recession	18:27 City AM
Careful, chancellor: there is good austerity and bad austerity	18:26 City AM - Columnists - Allister Heath
ECB leaves door open for 2013 cut	18:18 Irish Examiner
Benefits to rise by less than inflation: full breakdown	18:14 Money Saving Expert - Reclaim/Benefits
Analysts predict Chinese economy will grow 8.2% in 2013	18:09 Asahi Shimbun - Business
Could the ‘platinum coin option’ solve the U.S. debt crisis?	18:07 The Washington Post
The Euro Crisis: A Damage Assessment	18:04 Business Week - BW Magazine
Indian HRC import market quiet on few offers, weak rupee	18:03 Steel Business Briefing
Australia's trade deficit widens	18:01 WA Today - Business - National
Japan EconMinister Maehara: Govmt expects BOJ to end deflation, correct the Yen gain	18:01 ForexLive.com
Dollar Loan Center Announces It's 2012 Holiday Photo Contest	17:58 Yahoo! US - Business - Press Releases
Euro instability hits Micro Focus but profits hold	17:57 City AM
Silver Gulch opens at Ted Stevens Anchorage International Airport	17:53 Anchorage Daily News, Alaska - Money
Forex: AUD/USD, Australia trade number discourages volatility; stops above 1.0525	17:44 FXstreet - Forex News
Trade deficit widens as exports fall flat	17:43 Sydney Morning Herald - Business
FTSE strikes two month high amid weak trading yet lags euro stocks	17:42 City AM - Investments
Australian Dollar Outlook - 07 December 2012	17:40 IBTimes.co.uk - Economy
Trade deficit widens in October	17:37 The Age
2 to 4 hours old www.usagold.com --LIVE NEWS--
ActivEX starts Barambah gold-silver drilling	17:34 Proactiveinvestors - Australia
Forex Flash: EUR/USD: outlook bullish; 1.2875 support expected to hold - BNZ	17:34 FXstreet - Forex News
In a slow economy, baby is a luxury item	17:30 The Globe and Mail
Draghi’s Go-to ECB Seen Risking Credibility Through Overload	17:28 Bloomberg - Industries - Retail
ECB forecast cuts send oil lower	17:27 Middle East North Africa Financial Network
Fiscal Cliff's Potential Impact On The Price Of Gold	17:25 SeekingAlpha - Macro View
Ivory Coast Gold Miners May Halt Sites on Tax, Group Says	17:24 Bloomberg - Regions - Africa
Oil Trades Near Three-Week Low as ECB Cuts Europe Growth Outlook	17:21 Bloomberg - Industries - Energy
Forex: Next bearish target for EUR/USD at 1.2880 - V.Bednarik	17:14 FXstreet - Forex News
Cash Hoards, Baseball Bunts Show Economic Slump has Japan Running Scared	17:12 Bloomberg - Industries

Gold Probes Back Above $1700

by Peter A. Grant

Dec 06, AM
(from USAGOLD.com) --

Gold is testing back above the $1700 level after tests of the downside earlier in the week stalled ahead of the range low at 1672.68 (05-Nov low). We noted in yesterday's report that the high and low of the range were established on the 5th day of the previous too months. So far yesterday's low (also the 5th of the month) is holding and the gains today ease short-term pressure on the downside somewhat.

Both the BoE and the ECB held steady on rates, even as growth risks are clearly mounting. The ECB significantly lowered their 2013 GDP forecast to -0.3%, from the +0.5% prediction they made in September. Yesterday, the UK's Chancellor of the Exchequer delivered what the Wall Street Journal called "a triple whammy of bad news." George Osborne conceded "the economic recovery was taking longer than expected; that he would likely fail to meet a key self-imposed debt goal; and that government cost cutting would continue until 2018, three years longer than initially planned. At that point, the U.K. will have experienced eight straight years of austerity."

Both the euro and Sterling have come under pressure, amid rising expectations that these heightened growth risks will ultimately prompt the central banks to offer additional accommodations. ECB chief Draghi in his press conference revealed that a cut in the overnight deposit rate, which is currently at 0%, was discussed. He suggested that the only reason they didn't move this month was "conflicting signs" on the short-term outlook.

So as the ECB and the BoE contemplate additional measures, and in light of the RBA's recent ease, we also know that the Fed is of a similar mindset. Focus is squarely on next week's FOMC meeting. With Operation Twist expiring at the end of the year, I think it's likely that the Fed will announce its intent to restart outright Treasury purchases.

That becomes increasingly likely if there is a bad nonfarm payrolls report on Friday. At this point, surveys suggest there will be a small rise in payrolls of 110k and the jobless rate will remain steady at 7.9%. However, the affects of Hurricane Sandy have resulted in a fair amount of uncertainty. Gallup daily tracking interviews suggest scope for upside surprise tomorrow with potential for a rebound in the unemployment rate to 8.3%.

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Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

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Gold Probes Back Above $1700