Gold:
Gold closed at $1714 an ounce last Friday, hanging on to its range between $1710 and $1717. It
could trade at that level if no optimism in the market unfolds.
Fiscal cliff resolution expectations could weaken the dollar and push gold back to its prior
trading range between $1720 and $1730. Any break of that range could be very bullish and target
the next robust resistance level at $1753 an ounce.
Dax:
The German index closed last at 6950 points, the lowest level in 2.5 months and will look today
to head up. Expectations for an agreement in the US senate are improving and there is a strong
possibility of an agreement soon.
Looking forwards, an established plan by the ECB after an agreement in the US is achieved
could spike the index to the levels it was trading at before this last bearish session.