Mon Oct 13—Comex Decmeber gold futures are moderately firmer heading into the New York open on Monday, but well off their overnight highs. For now the bulls are pausing ahead of 40-day moving average resistance, but the action is not really a surprise. Gold bulls marked out an important bottom last week, as the market rallied sharply from key support. And it is now vulnerable to a short period of consolidation or “backing and filling” as the market digests last week’s gains.
