As we approach the end of the week, gold is trading slightly off its best levels thanks in part to a rebound for the US dollar and the recent recovery in stock prices reducing the appeal of the safe-haven commodity. The metal is still up for the fourth consecutive month, so its struggle to go further higher this week should come as no surprise. Clearly some profit-taking should be expected. It is far too early to suggest that gold has peaked, even though it has hit one of our major long-term levels around $1295/$1300. But for us to turn bearish on the metal again, we do need to see more evidence that the buying ... (full story)