As the dollar rose, it stifled any rally in the price of gold, as levels remained fairly stable ahead of today's interest rate decisions in the UK and Eurozone. As expected, rates were left unchanged, so attention will now turn to this afternoon's jobless claims and tomorrows non-farm payroll figures. Volumes remain a bit lacklustre as we approach the Chinese new year.

Market News

1. Both the UK and Eurozone had rates left unchanged at 0.5% and 1% respectively
2. The Bank of England have halted their quantative easing programme after 11 months of asset buying
3. Please note that we are scheduled to see non-farm payroll figures released tomorrow ahead of the opening bell

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