Federal Reserve Chairman Ben Bernanke's congressional testimony this week - Pay

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Gold futures did an abrupt about-face Monday, hitting seven-week highs in
overnight screen trading before turning sharply lower largely on profit-taking,
traders and analysts said.

  Several analysts suggested some traders were exiting flight-to-safety
positions since the Israeli-Hezbollah fighting has not bmw801e even more
widespread, as some may have feared. Other catalysts, they added, were a
stronger dollar, softer crude oil, caution ahead of Federal Reserve Chairman
Ben Bernanke's congressional testimony this week, and chart-based factors.

"We're seeing some profit-taking," said Paul McLeod, vice president for
mw801merzbank. "However, the markets were quite thin. I think the moves were
exaggerated, given the volumes that were traded. It certainly wasn't a big rush to the exit doors."