Gold futures jumped Friday as the dollar retreated and oil prices rose, leading investors to seek a refuge in precious metals. Trading volume was thin heading into the holidays.

Holiday trading will be in full swing this upcoming week with the currency markets closed on 12/25 and 12/26. The only pieces of economic data due for release on Monday will be from Japan.

AFP – US commander General David Petraeus Sunday hailed “fragile” progress towards damping down sectarian bloodshed in Iraq but cautioned against a faster withdrawal of US forces.

AP – Turkish fighter jets bombed Kurdish rebel targets in northern Iraq on Sunday, a spokesman for security forces in the Kurdish-run region said.

Reuters – Turkish warplanes bombed areas in
northern Iraq on Sunday for the second day in a row but caused
no casualties, an Iraqi Kurdish official said.

CHICAGO – Dec 19/07 – SNS — Following is the currency futures comment from Alaron Trading Corp. The BP opened lower at 2.0025 as news that the last rate cut decision wan unanimous, 9-0 and could lead the way to further rate cuts in 08′.

The US government declined to name China a currency “manipulator” but said in a report Wednesday that the Chinese yuan remains severely undervalued against the dollar.

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AFP – Turkey’s military said it attacked Kurdish separatists in northern Iraq Saturday for the third time in less than a week, bombing and shelling positions and warning more will follow.

AFP – A senior US diplomat said Iran has reined in Shiite militias in Iraq, causing a sharp drop in roadside bomb attacks in recent months, the Washington Post reported on Sunday.