Comex Gold Gain due On Physical Buying Support

Physical support overnight lends a firmer feel to Comex gold; however, the week long holiday in China is likely to keep trading conditions thin, as seen in Asia.

With the market now in the last quarter of the year we will see investment interest as well as physical buying pick-up as jewelry manufacturers in Europe and North American begin to stock-up ahead of the Christmas period, and could potentially see the metal work its way back towards the $700 level.