U.S. employers cut 533,000 jobs in November… Oil prices near lowest level in four years… Market looking at $40 as slowdown hurts demand

Proposed IMF sales fail to dent market. Gold was right at its base for the day, $905, when the New York session opened on Wednesday, but the metal went near-vertical from there, pushing above $935 before a slight easing in the afternoon hours took it to a finish at $934.00/oz., up $18.60.