what will gold do in coming weks???, page-5

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SPOT NY CLOSE * SUPPORT * RESIST * RSI14 * MA10 * MA30

GOLD 336.10/6.90 * 330.00 * 350.00 * 46 * 347.77 * 353.51

SILVER 4.53/4.55 * 4.50 * 4.60 * 41 * 4.62 * 4.62

PLAT 685.00/90.00 * 660.00 * 710.00 * 58 * 692.80 * 682.97

-------------- VIEWS FROM THE MARKET - March 17 ---------------

LONDON, March 17 (Reuters) - Gold was seen technically well

supported and on course to re-test $360 an ounce after gaining

$8 an ounce on Monday on prospects of war in Iraq, traders said.

Silver and platinum were both seen tracking safe-haven gold

higher as investors looked for an insurance policy.



GOLD - Gold gained more than $8 at the start of European

trading, lifting itself above last week's three-month of

$331.30.

At 0735 GMT, spot gold was quoted at $344.50/345.25 an

ounce, up from $336.10/336.90 an ounce at the New York close on

Friday.

The gains came on the back of war fears.

Bullion was seen technically supported around $330 with

resistance at $350 and then $360.

"The 200-day moving average at $329/328 should offer

support. The fact that the RSI is close to oversold may also

limit the downside near term," said Prudential-Bache

International Ltd in a report.

Poised for war, the United States, Britain and Spain on

Monday were close to abandoning efforts to gain international

approval for military action unless the U.N. Security Council

immediately backed a resolution on the use of force.

But the council consultations, called for 10 a.m. EST (1500

GMT) may be the last on a resolution that appeared doomed and

faced opposition from a majority of council members.

France wants a minimum of 30 days for Iraq to meet remaining

disarmament tasks set by chief U.N weapons inspector Hans Blix,

which the Bush administration has rejected.

French Foreign Minister Dominique de Villepin on Monday said

his country could nott accept a U.N. resolution that includes an

ultimatum or an automatic resort to force to ensure Iraq rids

itself of its weapons of mass destruction.

U.S. President George W. Bush said after an emergency summit

on Sunday with the leaders of Britain, Spain and Portugal on the

wind-swept Azores Islands in the eastern Atlantic, "We concluded

that tomorrow is a moment of truth for the world."

Higher oil prices and a weaker dollar

also supported bullion.

"Gold is benefiting from economic, financial and political

uncertainty generally and we do not see even a short, successful

war as the panacea," said Kamal Naqvi, metals analyst at

Macquarie Research in London.