I’m not a great believer in technical extension forecasting but when you’ve got nothing else to go on then I suppose it should be taken into account. Two of the bigger banks have forecast interim tops for Gold in the $1615/$1630 range and so far these predictions are looking reasonably foresightful. It could be that the bank’s calls are encouraging speculators to try and short it at these levels. Whatever the case, I’m guessing there will be stops above $1630/oz.