Gold futures continued to post solid gains Tuesday, keeping the May contract above $900 an ounce.
Recently, futures were rising $9.90 to $911.50 at the Comex division of the New York Mercantile Exchange. The contract has traded as low as $902.90 and as high as $912.30 so far during the session.
Gold analysts are now waiting to see if the rally in prices will hold. James Moore of TheBullionDesk.com says the advance "is seeing some fund interest [and] ETF buying, as well."
Moore believes the rally could be the start of something bigger, a tentative push out of the recent downtrend. "If we break through $920, we could pick up some fresh demand and technical buying", which would offset any profit-taking, he says.
Elsewhere, silver futures were climbing 38 cents to $12.47 an ounce, and copper prices were slipping 3 cents to $2.11 a pound.
In gold stocks, Newmont Mining(NEM Quote) was trading relatively flat at $41.32, while Barrick Gold(ABX Quote) was rising 2% to $31.53.
Shares of Yamana Gold(AUY Quote) were climbing almost 2% to $8.66. The company will report first-quarter earnings after the market closes.
