Gold shot $5 higher straight after today's London PM fix. But so far for the day it's barely moved in Dollars, Euros, Sterling or Yen.
"The Dollar is pretty much stuck in a tight range," says a metals analyst at UBS. "Unless the dollar moves out of this range, I don't think you are going to get too much incentive for precious metals to move out of the range as well...We are still looking for [gold to] move down towards the $620 level."
What's more, "the holiday season is approaching," as one Hong Kong dealer put it to Reuters. Another dealer reckons gold will trade sideways for the rest of December as traders and fund managers nip away from their desks to go shopping.
Good job they've got record bonuses to spend! Have you seen the price of Christmas gifts lately? Click here for a shocking tale from London...