Widely expected to correct downwards after such a long period of growth.
However end of last week's movement proved there are still some steam left in the furnace. It might be range bound for a little while.
Be careful of this false break. Close of the market attempt to support break suggest some big funds at play or a large algo group going for a kill.
More production coming online... Indians appetite still strong but it's controlled market. Gold certs are over printed and without support of the same physical. However the situation will correct somewhat later on.
Gold and Oil used to have a direct positive relation. Something happened. Maybe the limits of behaviour is a minimum oil price of $60 per barrel. Afterall Gold CANNOT be SUBSTITUTED unlike Oil.
No doubt Oil's rise no longer brings inflation as directly as before. Before Oil loses that inflation causing effect when batteries takeover, perhaps Oil will have one...