25 Quotes by Darren Heathcote

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.

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.

The fact that it hasn't broken through, sustained a break through $535 is probably helping people to find a bit more confidence to buy it back again.

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.

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

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

If we sustain this break for the duration of the day, then I think we will be looking to test $495 again.

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.

I think the scope is great to move down to the lows of the $525 area before building again for another move up.