Gold
Gold fell 0.5% yesterday and is trading at $1,102/oz. In euro and GBP terms gold is trading at €797/oz and £696/oz. Support for gold is currently seen at $1,076/oz and resistance at $1,115/oz.

Risk aversion is making a comeback in markets internationally which has seen equity markets in Asia and in Europe this morning come under pressure after yesterday's falls on Wall Street. Gold has fallen slightly this morning on continuing strength in the dollar and weaker oil (on falling US demand).

Investors will be keeping a close eye on comments from ECB president Jean-Claude Trichet at the central bank's press conference for any comments on the fiscal health of peripheral eurozone states as fears of a sovereign default persist. Concerns over dislocation in European sovereign debt markets leading to contagion in the eurozone will result in the euro coming under further pressure (against the dollar and gold).

width=435

Silver
Silver is trading at $16.15/oz In Euro and GBP terms silver is trading at €11.69/oz and £10.20/oz.

Platinum Group Metals
Platinum is trading at $1,551/oz while rhodium and palladium are trading at $2.600/oz and $446/oz respectively.

News
- Asian and European stock markets retreated as an overnight slide on Wall Street undermined confidence ahead of a key US jobs report and central bank decisions in Europe. Selling hit almost every major market.

- The International Monetary Fund would help Greece if asked but is confident the country's government will take the necessary action to deal with its fiscal crisis, the head of the fund said today.

- The European Central Bank meeting today will be dominated by concerns over debt-ridden Greece and other countries with high public deficits that have pushed the eurozone into its worst-ever crisis.  Economists polled by Dow Jones Newswires expect the ECB's main interest rate to stay at a record low of one per cent for most of 2010, so suspense hangs on how the bank responds to growing tensions within the 16-nation eurozone.