Gold and silver pause after rally to two and a half week high

Gold and silver are holding ground just short of a two and a half week high as concerns about Greece’s ability to implement an unpopular bailout deal balanced out the gains triggered by the actual agreement.

Cash gold staged its biggest one-day rise in two weeks on Tuesday, climbing 1.5 percent along with riskier assets after euro zone finance ministers gave the green light to the 130 billion euro bailout for Greece. Gold has been seesawing in the range between $1,700 and$1,760 since late January, tracking Greece's torturous path to securing the bailout, while physical demand provided limited support.

Technical analysis suggested that spot gold could break above $1,760 and trade in the range between $1,766 and $1,771during the day

For more on gold and silver click on the links below;

$2,000 Gold by April amid “Continual Growing of Demand”

The Enduring Popularity of Gold – Frank Holmes

What the Greek bailout means for gold and silver

Gold, silver rises on higher oil prices, Greek debt package

The Long-Term Fundamental Case for Gold

Commodities poised for a new rally

“As time wears on and central banks do even more to prop up the broader economy and failing financial institutions, it is without question in my mind that gold and silver will both benefit handsomely from these decisions being made by central bankers from around the world.” Chris Vermeulen & JW Jones,( the long term fundamental case for gold)

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