Spot Gold

Spot gold is battling against short-term resistance
around its 200-day moving average at $1,635.50/oz, currently trading at
$1,633.40/oz, up 1.4% on the day. A convincing break above this key level would
bode well for the metal, which last month fell below its 200-day moving average
for the first time in more than two years, sparking a technically driven
selloff. The rest of the precious metal complex is also sharply higher, boosted
by a stronger euro. Spot silver is up 3.2% at $29.867/oz, having earlier broken
above $30/oz for the first time in three weeks. Spot platinum is up 2.5% at
$1,457/oz and spot palladium is up 3.4% at
$635.50/oz.