With holidays over, the plans of the weekend G7 meeting are currently being carried out. Here is what veteran analyst Bill Cara had to say a few minutes ago...

"Should gold break-out above the 953 in the next 18 hours, I think it may hit 1000 soon. The $USD is soaring -- presently at 87.48 -- and that is not stopping the gold rally. Silver is under control all day with selling at 13.59. The chart makes this look quite obvious. If there is a break-out above 13.80, and the gold rally is continuing, I think both will move to a new level. The bigger upside would be with Silver, but both have room for solid gains. However, this is a market that HB&B (ie, JP Morgan) and the Bank of England are major players, so frequent trading and use of mental stops are required. Watch the British Pound here closely because I think the Bank of England is working hand in glove with the Fed and the major banks like JP Morgan and Barclays on trying to contain the run-up in the precious metals price."

Very fluid conditions - VHF