Gold moved down last Friday as the profit taking continued with support coming from a rebound in the US dollar. Although the yellow metal managed its fourth consecutive close over the $1000.00 level any future rally will rely heavily upon a renewed weakness in the greenback. And that's because the IMF executive board approved the sale of over 400 tons of gold to fund lending and the announcement has the potential of pressuring gold, at least on the short term. Silver declined even outpacing gold in percentage terms. The reason is the white metals' smaller market which often experiences bigger volatility.

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Gold & Silver

METAL

LEVEL

CHANGE

GOLD

1006.15

(-7.63)

SILVER

16.960

(-0.33)

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