Gold continued to trade below the $1,100 level, but the price may be being supported by traders in anticipation of increased demand ahead of the Chinese New Year in February, which typically sees lots of gold buying. The downside pressure is coming from the rise in the USD as investors flee the embattled Euro on concerns over the state of the Greek economy.

Market News

1. US GDP is expected to show its fastest growth for four years, but this has been supported by the government backed stimulus programme
2. Ben Bernanke's second term as Chairman of the Federal Reserve was confirmed last night despite the economic woes

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