Gold testing $2600

After a bullish performance last week which took gold to new highs, will it hold on to them, or is a correction overdue? Read on…

This week, gold and silver consolidated recent rises with gold trading at $2608 in early European trade, up $35 on the week after last week’s spectacular rise. And silver traded at $31.15, up 45 cents on the same time scale. Comex volumes were moderately healthy, with a noticeable increase in turnover on Wednesday, when the Fed cut its funds rate by 0.5…