market talk

Gold is managing to hold well above short-term
technical support at $1,690/oz, and so current prices may be viewed
increasingly as a good buying opportunity, says FuturesTechs. "Yesterday's
price action was very much the calm after the storm, and the bulls did what
they had to in keeping above some key levels," it says. It notes, however, that
if gold futures close below $1,728.40/oz, technical charts may turn more
bearish. "The bulls need to achieve is a move back above $1,740-$1,742/oz,
where resistance could be strong," it says. Spot gold is down $4.39 at
$1,713.51/oz.