Gold Update

The outlook looks increasingly positive with the focus next on 676.35 following the recent break of 656.20.

Gold has confirmed an important break having cleared 656.20, the Aug 2, 2006 high.

The break of this level confirmed a resumption of the uptrend and paves the way for gains towards 676.35, the July 17, 2006 high.

Momentum conditions continue to provide a positive backdrop and remain in bull mode supporting the outlook for further gains in the metal.

Support has been defined at 641.10, the Jan 30 low where a break is required to undermine the current trend.