The combination of early closes, thin volumes and end-of-year book squaring are set to keep volatility high, but with gold set to close above $500/oz, the prospects of further gains in 2006 are looking very strong indeed.

James Moore

Book Closes Combination Early High Set Thin Volumes Year

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Overall the prospect of a move higher looks increasingly likely, with prices set to clear the high of last year and push on towards $500 before the year is out,

— James Moore

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The operation wasn't great. The snap was high and the kick was low. It's been a combination of everything.

— Patrick Moore

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What's amazing is that every single year, the record book is re-written. The bar is set so high that the next guy has to live up to that. That player has to rewrite the record book. That's why they succeed.

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You've got to set a tone early. We didn't set that tone early last year and it lasted the whole year.

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It was extremely quiet, thin volumes. The markets were sufficiently thin that if you wanted to do anything of consequence, either buying or selling, you probably would have moved the market.

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