Gold prices continued to rally on Wednesday.

Gold remains on the borderline of being technically oversold with a Williams%R reading of -61.66

Gold is trading higher in Tokyo on Friday........
Gold for immediate delivery gained $9.71, or 1.1 percent, to $920.24 an ounce as of 4:26 p.m. in Tokyo.

NYMEX trading is closed for the Good Friday holiday.

Gold continues to be pressured by margin related selling and profit booking prior to the end of the quarter. Gold is down more than 8% over the past 4 trading sessions. A bounce off the support level of $900 could provide a strong buy signal.

``Gold's assault on $1,000 is happening for a good reason,'' ....``Gold is not only an inflation hedge, it's a catastrophe hedge. Gold is becoming increasingly important as the credit crunch continues to spiral out of control.''........Gold Analyst James Turk

Shares of Newmont Mining have broken above the 50 day moving average of $51.84

Continued weakness in the US Dollar is driving gold prices to record levels.