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.

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.

We are still in an upward trend. The fundamentals are still in place but I think we are having a bit of a shake-out.

At the moment, I think we're lacking a little bit of direction.

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.