Gold aims for $700

Gold bounced off 656.40 Feb 21 low and is likely to extend the major up-leg off 602.20 Jan 5 low beyond 688.40 Feb 23 high.

Underpinned by rising moving average, positive momentum bodes well for further gains to 692.27, projection target, preceding 694.60 high.

Beyond there exposes 716.50 and 720.10, May 2006 highs.

Supports are located at 673.00 low and 670.00 rising trend-line. Beneath 656.40, however, risks 645.00 zone.

Silver continues to advance on the breach of the trend-line resistance off 15.240 May 2006 critical top.

Former high at 14.100, Feb 14 high turns support to underpin current impulsive up-move towards 15.080, May 12, 2006 high ahead of 15.240, May 11, 2006 high.

Downside, a loss of 14.185 Feb 23 low dampens for deeper fall below 13.690 Feb 20 low.