Gold Comment 25/06/09

9 day moving average - $931.81 14 day moving average - $938.85 40 day moving average - $938.23

Gold Report:

Gold moved higher gaining $7.72 to finish at $932.62/oz despite a rebound in the US dollar which usually means downward pressure for the precious metal. The move was possibly driven by a return to risk appetite encouraged by a stronger than forecasted US durable goods report. Some extra support may have come from tensions with North Korea which prompted flight to quality and also continued worries about reserve currency status of the US currency.

The short term trend is bearish, the medium term trend is sideways while the long term trend is bullish.

Support: $921.65 (yesterday's low) Resistance: $958.20 (high of 12/06/09)

Support:$912.70 (low of 23/06/09) Resistance: $943.15 (high of 17/06/09)

Support:$904.65 (low of 08/05/09) Resistance: $941.30 (yesterday's high)

Silver Comment 25/06/09

9 day moving average - $14.066 14 day moving average - $14.444 40 day moving average - $14.420

Silver Report:

Silver gave back its early gains finishing slightly lower, 2 cents due to the strengthening in the US dollar. Some analysts also pointed out investors' hesitation ahead of the outcome of FOMC meeting which kept many on the sidelines. Concerns among market participants that the ‘green shoots' concept may be exaggerated adds extra pressure on silver which lately seems to behave more like an industrial metal.

The short term trend is bearish, the medium term trend is sideways while the long term trend is bullish.

Support: $13.778 (yesterday's low) Resistance: $14.380 (high of 19/06/09)

Support:$13.600 (low of 23/06/09) Resistance: $14.220 (high of 22/06/09)

Support:$13.410 (low of 20/03/09) Resistance: $14.110 (yesterday's high)