After 10 consecutive trading days which resulted in daily gains and a higher closing price when compared to the open that streak was broken today when gold futures settled sharply lower on today.

This is being written as of 6:51 PM Eastern standard Time. Reports have surfaced that Iran launched "tens" of surface to surface missiles at Iraq’s Al Asad airbase.

Gold futures traded sharply higher overseas yesterday as recently increased tensions in the Middle East took the precious metal to $1590.90 before giving up much of those gains as trading moved into New York this morning.