James Moore Quotes on Gold (20 Quotes)

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.

Oil-driven inflation concerns seem set once again to propel the gold market higher with fund players keen to push the market in their favor.

With the central bank of Argentina hinting they might be buying, all the pieces are coming together to make a bullish picture for gold.

Silver again took its lead from the gold market with the industrial precious metal making light gains.

This is not going to have any impact on the price as 10 tons is not a whole lot of gold.

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.

Gold is getting good support at current levels and is holding above the lows of last week.

Despite the risk of another correction though gold should continue to find good support given the limited change in the macroeconomic and geopolitical picture, particularly with the UN security council's deadline on Iran approaching at the end of the week

Gold should find temporary resistance around 572 but a re-test of January's 575 high now appears imminent with resistance above now expected at 578582.

Like gold, platinum may need a period of consolidation before making a sustained rally. But with the metal trading close to its all-time high, I would be surprised if investors and fund players don't go gunning for the highs in the coming sessions.

Gold looks set to remain in its current uptrend for the moment, with fresh investment interest keen to drive the market higher.

The market for gold is very thin and gold is higher on a bit of buying. Gold could test 518oz or maybe 525oz today. The range for the rest of today, for gold, is likely to be between 518oz to 525oz. Despite the risk of a downwards correction, similar to that seen at the start of 2005, the outlook for the precious complex remains very upbeat with the combination of positive supply and demand fundamentals, good physical and growing investor demand set to push the metal beyond the 541oz high seen in early December and continue the bull-trend across the year.

The absence of upside momentum suggests a period of consolidation may be necessary before gold continues towards 600.

Gold is looking set for more sideways trade.

For the moment, gold appears comfortable just below the 550oz level, working between 542oz and 550oz. While the mid to longer-term outlook remains bullish for gold, the yellow metal needs to make a convincing break above 550oz, in the next few days, in order to avoid losing some of its short-term momentum and potentially correct back to 525oz.

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.

The basic fundamentals for gold are looking very good.

Funds are liquidating positions in gold because they are expecting higher interest rates in the U.S..

For now gold should hold the 440-448 range, however I still feel the yellow metal is vulnerable to a correction lower.

Gold has failed to match the lofty highs of 451.50 seen during Asian overnight trade, drifting back under the 450 level in European trade as players monitored the movements in the currencies.