darren heathcote

Geopolitical tensions continue to keep people invested in gold. People are content to be long in precious metals than the dollar, or other investments.

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The funds are still happy to play around at these levels. They expect us to look to test the upside a little bit but I don't necessarily at this stage think we are going to do 500.

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If the statement that follows suggests they may look to halt their policy of raising in moderation, to the extent that they're not going to raise rates again at the next meeting, then the dollar could suffer on the back of that and that would give a boost to gold.

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Certainly, it looks like we are targeting 600 in the near term. It may happen in London overnight.

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Obviously, the funds will be looking to speculate and make some money out of this. But I am still of the opinion that the spike might be somewhat short-lived.

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There was a significant drive in Japan in recent weeks. People are very happy to be jumping on the bandwagon and basically riding the thing up.

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There's some profit-taking now, but look at where we are. It's broken 520, the target we had yesterday ... looks like 525 is the next target.

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People will be eyeing 450 as the target. It may not be today. It will be very quiet in the States.

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We've seen gold break the correlation with the dollar in recent times. We saw gold strengthening even though the U.S. dollar was strengthening.

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I do wonder about the validity of silver as an alternative investment vehicle.

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There's a severe lack of interest in Asia. There was some physical buying on the dips down. That's started to dissipate.

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Investment funds are pushing gold. The drive for it is still fundamentally sound.

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There's definitely more buying in gold, obviously on inflationary fears. The funds have continued to buy.

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We're still in a bit of consolidation...I think everything is still pretty good, still positive for gold. It doesn't really have any momentum to push it down.

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It's dizzy high, and we're looking at a very overbought market. We're looking for a correction. It has to come at some point. However, given where oil is, it may well give some support on the downside.

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