Precious Metals Update

Gold manage to contain recent dips above 655.50, Mar 23 low and gaining momentum to extend up-leg on the back of double bottom reversal off the trend-line support.

Latest rebound above 655.50 will pivot next up-leg over 669.35, Mar 28 high ahead of resistance zone near 675.78, fib.764 level and 677.60, Feb 28 high.

Sustained break there will accelerate gains towards 689.00, Feb 27 trend top.

Silver remains firm in the near term on rebound from 12.605 Mar 14 low.

However, be cautious as it approaches key resistance level at 13.690, former support level.

Any pullback from there will test support zone near 13.155 and 13.000.

A break of 13.690, however, bodes well for firmer gains towards 13.740, Mar 2 high ahead of 14.000, preceding extension to 14.335, Mar 1 high.