As what has been mentioned in the recent analysis, "God willing, The gold will face serious pressure at these levels right now and in the coming few days by the thanks giving holidays which can calm down the market volumes".

The gold has slipped under 800$ per barrel on a greenback buying wave across the broad as a safe haven as a new wave of selling

The currency market is still taking its clues from the equity market changes as a mirror of the current financial markets turmoil. The markets eyes were looking for what can be for Citigroup not just these recent days which had a massive selling of the stock but may be since the bankruptcy of Lehman Brothers. The market has looked at the rescue plan of citi as a turning point of the crisis itself even if there are others in need of similar stimulus huge bailing out plans as the markets were looking at the spreading out group across the broad as very big to be allowed to fall with more than 2$ trillions of assets. The market has reacted strongly to the news and pushed the Japanese yen lower across the broad and the greenback in a sign of confidence in the equity markets to take risks again away from the current safe haven stance in the markets which pushed the gold prices recently above 800$, In spite of the current decline of inflation rates around the globe as a negative impact of outlook of the recession which resulted from the financial crisis. God willing, The gold will face serious pressure at these levels right now and in the coming few days by the thanks giving holidays which can calm down the market volumes.

The US equity market is still playing the role of the leading indicator of the global markets at the current markets turmoil and credit crisis impact.

The grrenback has found strong support recently from the sell off of the equity market which seemed persisting after last week weak ISM manafacting index of October which reached 38 in the contracting area below 50 a which  refer to prolonged way before getting above 50 again and further time in the contraction and the recession than what was expected and evaluated. The oil and comodities prices are under pressure in these same expectaions which refer to a decline of demand globally.

The yen is still holding most of its recent gains versus the european currencies  causing strong crisizms from the japaneses owes of the japanese equity market as its negative impact on the japanese exporters versus their european counterparts who finds strong support from the massive easing stance of their central banks which is expected to continue. The japanese yen which is the first funding currency of the carry trades as it is very low yield which is .3% currently after the BOJ last cut by just  .2% gets strong support from the unwiding of the carry trades transactions.It is very senstive to the movement in the equity markets which is the current mirror of the credit crisis impact and the markets leading indicator.

The US equity market is still playing the role of the leading indicator of the global markets at the current markets turmoil and credit crisis impact.

The grrenback has found strong support recently from the sell off in the equity market which seems mixed after last week volatility amid prolonged expectations of a global recession. The oil and comodities prices has come lower on these same expectaions which refer to a decline of demand globally but yesterday after the rally of the US equity market, the greenback has suffered across the broad as the current growing expectations of a big Fed's cut today to stimulate the economy and the stock market and the dampen the greenback attractiveness as well from both sides as a safe haven on the fed's accomodative step and the lower yield outlook of the greenback.