Precious Metals Futures Update

December Gold is consolidating in a range between 585 resistance area and 573 support areas short term, awaiting any signs of increased inflation from the FED and OPEC meeting early next..
However, the medium term downtrend is intact where supports comes in at 550 area in conjunction with a long term perspective. We do not expect gold to make any significant moves for now and due to its indecisive range trading past six trading sessions its preferable to trade with tight stops, and being in the side be a key to get a clear direction.