Mostly: Classical

[roni]

"Gold burst decisively through the $560 mark...even as many participants are out for the U.S. holiday," said Jon Nadler, an investment products analyst at bullion dealers Kitco.com, referring to the spot market Monday.

Trading on the New York Mercantile Exchange was closed Monday for the Martin Luther King, Jr. holiday.

On Friday, prices for the February gold contract rose to a high of $558.80 an ounce, the highest intraday futures price since March of 1981. They closed at $557, up $7.70 for the session and up $15.80 for the week.

"A global scramble for the asset is now unfolding, as the fund-driven price action is snowballing and attracting investors from all walks of life," said Nadler.

"Occasional setbacks and inevitable profit-taking will spook many latecomers as we go forward in this mountain-climbing expedition that gold finds itself on," he warned.

"But the mountain is there, the climbers are determined, and -- thus far -- the weather has been good," he said, adding that "base camp $575 is visible."

http://www.marketwatch.com/news/story.asp?guid=%7B85DBA06D%2D49A6%2D4687%2D8957%2D871DBD9598E1%7D&am...