The industrial metal should work between $250/oz to $270/oz for now before targeting $300/oz in early 2006.
Despite the market looking overbought at the moment, the second anniversary of Sept 11th and the pending renewal of the Washington Gold Agreement are likely to underpin the metal whilst the recent rise in investor interest has been behind gold's recent gains.
Currency watching has been seen overnight and will continue across the rest of the week as the metal goes through a consolidation phase,
Platinum should continue to find support ahead of $940/oz with the metals supply deficit and strong industrial demand continuing to provide strong support while palladium is currently finding support at $240/oz with strong chart support pegged at $220/oz.