Geopolitical tensions continue to keep people invested in gold. People are content to be long in precious metals than the dollar, or other investments.

There's definitely more buying in gold, obviously on inflationary fears. The funds have continued to buy.

We've seen gold break the correlation with the dollar in recent times. We saw gold strengthening even though the U.S. dollar was strengthening.

With the way the precious metals and the oil continue to soar, I think the market may be just a bit worried that the Fed may signal it indeed has a little bit of work left to do.

People will be eyeing $450 as the target. It may not be today. It will be very quiet in the States.

There was a significant drive in Japan in recent weeks. People are very happy to be jumping on the bandwagon and basically riding the thing up.