Gold has found follow through buying in the post-COMEX and Asian sessions which has led it to a fresh 25-year high of 570.50oz and in the current climate of inflationary concerns due to rising energy costs and geo-political uncertainties, particularly in the Middle-East, gold looks set to continue higher, targeting 575oz and potentially 600oz in the short-to medium term.
More Quotes from James Moore:
The background noise of geopolitical tensions, rising oil prices and investor diversification will continue to provide good support in coming sessions.James Moore
Silver again took its lead from the gold market with the industrial precious metal making light gains.
James Moore
For now gold should find support back to 548oz to 552oz with technical support at 545oz keeping the yellow metal within its current uptrend, while scaled up resistance should continue to be found ahead of 575oz.
James Moore
The absence of upside momentum suggests a period of consolidation may be necessary before gold continues towards 600.
James Moore
With clear skies above on the charts as well as positive fundamentals and strong investment demand, platinum has plenty of scope for further gains in the coming sessions.
James Moore
I'm not pretending I'm not a nice guy. I'm not pretending I don't have a temper.
James Moore
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Based on Topics: Gold Quotes, Uncertainty QuotesBased on Keywords: geo-political, middle-east
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