Analysis of today's market

Gold concluded its final trading day of the year on a quiet Tuesday, rebounding swiftly from a low of 2,600earlier in the week toclose at 2,625.00 per ounce. For much of the holiday season, the market has traded within a narrow range due to a lack of traders. Gold awaits further fundamental drivers to initiate the next phase of market activity in any direction.

Gold opened at 2624 and, as of press time, has risen to a high of 2630 and fallen to a low near 2621. Keep an eye on the resistance levels at 2620-2630-2640. If these are not breached, the market may test the support levels at 2590-2580-2570.