Gold is just 'catching its breath'

Analysts at Commodity Online have advised investors in gold that the current market volatility is expected and that the precious metal could soon experience a rebound.

Although prices in the last fortnight have not reached the high point of $1,000 seen on March 17th, the commodity analysts predict that there is more to come for gold prices.

"Consolidations can be thought of as springs being coiled. The longer the consolidation, the more potential energy is stored and the more explosive the next up leg will be."

"Gold will either return to the explosive growth of the past few months or return to its long-term channel for a more orderly advance," he said, according to Commodity Online.

Meanwhile, analysts at Standard Bank said that they believe crude oil prices will rise, leading to a rise in gold prices sooner rather than later, according to Reuters.

It is widely hoped that a meeting of the US central bank and the Group of Seven (G7) this week could offer more direction to currencies and bullion.

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