Gold: Go for Fresh Buying on Break of $965
Source: Commodity Online††(5/25/09)
"Spot gold is currently trading near the important resistance level of $965. . ."
Gold futures for June delivery climbed USD$7.70, or 0.8%, to USD$958.90 an ounce on the NYMEXís Comex division, after earlier touching USD$963.10, the highest for a most-active contract since March 20.
Gold gained 3% this week. Silver futures for July delivery advanced 1.7%, to USD$14.695 an ounce in New York. Earlier, the price touched USD$14.86, the highest for a most-active contract since August 14.
Gold managed to break past $960 on Friday but failed to give a firm closing above the same. Spot gold is currently trading near the important resistance level of $965 and fresh buying is recommended only the break of $965.