Barclays Capital Says something about GOLD..

Having revised their fed funds and 2007 growth forecasts Thurs,
strategists at Barclays Capital say they recognize that gold's
upside may be limited in coming months. (Barclays revised up their fed
funds forecast by 0.5%, looking for year-end at 6.0% and also revised
down their US GDP growth in H1 2007 by 0.5% to 2.0%) In terms of gold,
the strategists note that the "gold-dollar link" appears to have
strengthened "in the absence of significant independent drivers," with
the downward pressure on the euro weighing also on gold. From a
technical perspective, the euro needs to either break below its 200-day
moving average (now $550.50), which was briefly penetrated and rejected
June 14 (lows at $543/mvg avg that day $546) or begin to gain a toehold
over $600 (100 day moving average). The breakdown high from June 14
stands at $604.30, so gold will need to see a sustained move above that
level before a new uptrend can be seen, technical analysts say. Spot
gold holds currently at $576.75/oz.