Gold, silver set to rally next weekKedia Commodities / Mumbai November 11, 2006Spot gold closed at $628.55, up $1.15, and the range yesterday was a high of $635.80 and low of $626.50.The trend for gold is still higher as the 10-day moving average has served as support over the past two weeks. Silver continued to show resilience despite weakness in the gold pit yesterday.On the MCX, good buying saw gold hit a high of Rs 9,242/10gms and silver a high of Rs 19,455/kg. Some profit-booking due to end of the week and selling pressure in base metals brought the bullion prices to the support levels.Last week, gold initially stumbled in mid-week on speculation the price had moved up too much in recent weeks, but this week finished with a gain on good fundamental news for long-term buying as China
