Gold firmed after Friday’s closing and opened the Tocom session almost at the stop limit high price. The yellow metal saw some profit taking from the general public which took it briefly below $688.

Gold remained hovering around Thursday’s closing levels of $681-682 overnight, with Tocom once again being closed for holiday. In Europe the very narrow range above $680 prevailed.

Gold firmed slightly after NY close Tuesday, but failed to break above $675 on Tocom as offers around that level capped the upside. In Europe the $675 resistance was once again fruitlessly challenged, followed by the first London fix of $673.25, down 4.25 dollars from the previous AM.

Tocom was opened today, but it did not help the liquidity much. Gold was very quiet due to the absence of a lot of market makers. The yellow metal had a narrow two dollar range and very dull lacking interest sideways trading.

There was very little interest in gold overnight as Japanese were outdue to the Golden week. The yellow metal opened above $680 on the electronic trading, but got capped around $681.50 per ounce by profit taking.

Gold opened a dollar lower on Tocom compared to the NY closing price last night. Subsequently general public selling ahead of the long holiday in Japan pushed the yellow metal down to $671.50. Prices then rebounded, but remained in a very narrow range.

Japanese market players had hardly any interest today for gold as they could hardly wait until the National Holidays next week, on Monday, Thursday and Friday. Gold hovered in less that a two dollar range on Tocom with selling above $686 capping the upside.

Gold had a narrow three dollar range overnight, with physical buying on the dips below $683 and selling pressure above $685. In Europe the yellow metal gradually climbed to fix at $686.20 on the first London fixing, which marked the high of the day.

Tocom opened with the selling pressure, which eventually took gold down to $685.80. Physical bids then started to appear around the lows, allowing the yellow metal to recover half of the Asian session’s losses. In Europe we clearly saw an uptrend throughout the whole morning with theprices gradually gaining ground and hitting the high of $691.90 about an hour before the opening of the Comex division of the New York Mercantile Exchange.

Gold firmed slightly after Friday’s NY close, but spent a fairly quiet Far East session. Tocom had a two dollar range with the upside limited to $693.30.