Gold Sees Mixed Trading Day

Gold saw heavy volatility yesterday, as risk aversion in the marketplace led to losses for the precious metal during morning trading. The price of gold fell by more than $17 an ounce, reaching as low as $1567.56, before correcting itself during the afternoon session and stabilizing around the $1578 level. Today, gold traders will want to monitor developments out of the euro-zone. The markets have become very sensitive to comments from euro-zone leaders regarding the region's debt crisis. Any additional pessimistic comments today could result in gold sinking further during European trading.

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