Barclays Capital Supported Quotations

The faltering uptrend...warns of choppy times ahead. However, we do not think we have seen the peak for oil and while prices remains supported above $56.50 we are targeting $75 later in the year.

Much of gold's recent rally has been supported by positive investor sentiment in light of rising oil prices, inflation concerns and geopolitical volatility, and we do not expect these supportive macro-factors to dissipate in the near term.