Gold ready to move

According to Reuters - and completely anecdotally - gold is going to hang in there at $850 to $900 for the foreseeable.

The gold spot rose by over 1% in the London Friday morning session on Friday, regaining its last week’s closing level - $888 per oz

European stock markets remained static, while corn prices achieved new highs with news of poor weather and flooding in the Mid-West.

With the US$ remaining weak, there’s a possibility for gold to move higher in the near to middle term.

On the forex markets today, the Euro maintained its gains, hovering at $1.56 in spite of news that the industrial output of Germany fell by .8% in April from the previous month.