Gold prices settled at a more than two-week high on Thursday, putting prices on track to tally a small gain for the week.
The market had seen only modest moves in the past few trading sessions, but Michael Armbruster, managing partner at Altavest, warned that "thin holiday trading conditions can result in exaggerated one-day price action." For now, the gold charts "seem to be telling us that the yellow metal is in a holding pattern and it is only a matter of time before gold moves higher again," he said.
February gold rose $5.70, or 0.4%, to settle at $1,484.40 an ounce, the highest finish for a most-active contract since Dec. 3, according to FactSet data.
Source : MarketWatch