They pointed to a narrow, end-of-regular-season victory over the same Giants, who came away with the belief they could knock over Bill Belichick's wonder team.

WSJ: Jason Gay: Could Green Bay Win by Losing?

Some traders also pointed to declining volume, typical ahead of year-end, as a near-term factor likely to hold prices back.

FORBES: Analysts Mixed On Gold Next Week; Technical Factors Cited Both Ways

Update: Forbes editor Janet Novack pointed out that some small businesses are also calling for expiration of the high-end tax cuts in contradiction to their purported interests.

FORBES: Some Millionaires Want to Pay More Tax

He pointed out this was not the type of selling usually undertaken for profit-taking ahead of year-end.

FORBES: Focus: Sharp Gold Decline Blamed On Large Sell Order, Technicals, Softer Euro