Trading conditions are set to remain thin in the coming sessions which could give rise to a degree a price manipulation by certain sources.
More Quotes from James Moore:
This is not going to have any impact on the price as 10 tons is not a whole lot of gold.James Moore
For the moment gold should continue to find support above the 500oz level with interim support pegged at 512oz to 505oz, while resistance is pegged at 518oz to 525oz.
James Moore
Overall the prospect of a move higher looks increasingly likely, with prices set to clear the high of last year and push on towards 500 before the year is out,
James Moore
Despite the market looking overbought at the moment, the second anniversary of Sept 11th and the pending renewal of the Washington Gold Agreement are likely to underpin the metal whilst the recent rise in investor interest has been behind gold's recent gains,
James Moore
Offers have emerged overnight with gold so far matching yesterday's low but with early closes in London and New York today and both markets shut tomorrow for Good Friday, traders are going to be reluctant to go home short given the heightened geopolitical climate.
James Moore
Gold is looking set for more sideways trade.
James Moore
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