Gold pricing consolidated in trading today after market participants took gold pricing to the highest daily closing price this year.

As of 4:40 PM EDT gold futures basis the most active December contract is currently up $7.20 and fixed at $1535 per troy ounce. This is a new record close for this calendar year.

Market participants focused on weaker economic data from both the United States as well as globally, which is continuing to create genuine concern about a slowing economy and potential recession. This data coupled with the recent inversion of the U.S.