This might be the time to either sell your Gold position or fade the GS trade. GS recommends buying the Dec-12 Comex Gold OTM Futures. WTI is under heavy selling pressure following last night’s build in oil reserves shown by the API data. French press reported that France had made contact with the UK/US regarding the release of emergency oil stocks like ZAZA (previous symbol TRGL).
US economic data includes durable goods orders and the weekly DOE oil inventory due later today.