Precious Metals Update - Gold looks to complete bear run

Gold is likely to complete its bear run ahead of support zone bounded by 630.65, trend-line support and 624.57, 50% retracement of 560.13 to 689.00 rally.

While negative momentum wanes, rebound from 633.10 Mar 6 low signals recovery ahead.

Upside, expect a sustained clearance of 664.25, Mar 2 high and 677.60 Feb 28 corrective high, before resuming bull leg towards recent high at 689.00, Feb 27 trend top.

Silver may have completed its corrective pullback from Feb 26 high at 14.748.

It has settled near 12.420 Mar 5 low and respite off 12.610 Mar 6 low signals a possible trend reversal on rising momentum.

Hence, expect renew up-leg towards 13.740, Mar 2 high which it may face some fight there, preceding eventual return to 14.335, Mar 1 high.