METALS: December gold futures closed down $3.50 at $1,306.80 today.

Prices today closed near mid-range after scoring another fresh record high. Profit-taking pressure and end-of-the-month and end-of-the-quarter book-squaring were featured today. Price action today did score a mildly bearish "outside day" down on the daily bar chart, whereby the high was higher and the low was lower than the previous session's trading range, with a lower close.

If there is solid follow-through selling pressure on Friday, then a bearish "key reversal" down could be confirmed, which would be one early technical clue that a near-term market top is in place.

December silver futures closed down 22.2 cents at $21.73 an ounce today. Prices closed nearer the session low after scoring another fresh 30-year high early on.

Profit-taking pressure and end-of-the-month and end-of- the-quarter book-squaring were also featured in silver today. Price action today did score a mildly bearish "outside day" down on the daily bar chart, whereby the high was higher and the low was lower than the previous session's trading range, with a lower close.

If there is solid follow-through selling pressure on Friday, then a bearish "key reversal" down could be confirmed, which would be one early technical clue that a near-term market top is in place.

December N.Y. copper closed down 65 points at 365.50 cents today. Prices closed nearer the session high today.

A firmer U.S. dollar limited buying interest in copper today. The copper bulls still have the solid overall near-term technical advantage. Prices are in a four- month-old uptrend on the daily bar chart.