Bullion Strong In Tight Range Amid Mixed Technical Picture
Source: Platts.com (1/23/07)
Bullion continued to trade in its $630-640/oz range Tuesday as bulls seek another test of resistance, having failed in New York trade overnight.
"Gold is quite firm and it's looking good at the moment. There is a strong market at the moment but not a whole lot of demand," the trader said. Physical demand normally receives a boost at this time of the year with the onset of a wedding season in India, which usually prompts a high level of physical uptake.