Gold homes in on the $3,000 mark ...Middle East

The next target? The $3,000 mark of course. That's the big one in terms of a psychological barrier for the precious metal.

Will this time be different though?

The rise to where we are now has been breathtaking and really one-sided in terms of momentum. That argues for a correction of sorts but we've not got that whatsoever until now.

I wouldn't rule out a good bout of profit taking upon hitting $3,000. But if we easily shoot past that, we might see gold touch $3,100 or $3,200 before the next real pullback.

This article was written by Justin Low at www.forexlive.com.

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