28
July
Gold to Target Record Above $970 Resistance: Technical Analysis
28 July 2009 Bloomberg.com
Gold may extend a recent rally and target its record high as so-called momentum indicators suggest “there’s plenty of fuel in the tank to propel a multi-week advance,” BNP Paribas SA said, citing trading patterns.
Gold for immediate delivery traded little changed at $947.71 an ounce at 8:37 a.m. Singapore time and is heading for a second weekly increase. The precious metal is down 8.1 percent from its peak on March 17, 2008. Bullion’s high this year was $1,006.29 an ounce, reached Feb. 20.
http://www.bloomberg.com/apps/news?pid=20601091&sid=aIbDlt7LsS3w
