The gold market has gone back and forth quite a bit during the early hours here on Thursday, as it looks like we are going to continue to see buyers, but I think given enough time, we probably not only go higher, but we break the recent highs just below the crucial $2,490 level. I do think it is probably only a matter of time before we not only break above there, but then clear the psychologically important $2,500 level.
All things being equal, this is a market that I believe buyers will continue to come in and take advantage of cheap ounces with the $2,400 level underneath being a major support level as it had previously been a major resistance level.
