Spot Gold Holds at 638.50

Spot gold holds at $638.50/oz after trading in a $637.00 to
$644.75 range. The precious metal traded largely in line with the dollar
Wednesday after a bout of hefty profit-taking Tuesday (high at $676
seen). the market will keep a close eye on the dollar, oil, and "the newswires"
(Mideast updates) which will drive prices. Overall, the theme remains
sideways to higher, with the $615 to $655 range set to contain price
action initially.