Gold extends gain to $40. Silver surges ...Middle East

Gold has a seasonal tailwind in Dec-Jan and now it has a fundamental one.China's central bank resumed buying gold for the first time in six months, weekend data revealed. China had halted purchases in May in a move that signalled price sensitivity above $2400/oz. However it looks like they've had a change of heart and are now buying above $2600/oz.As I noted on the weekend, when China halted buying it led to a $50 decline initially and $100 in the following days. So far, we've seen a $40 climb to $2673.Technically, how does it look? The climb above the December highs is good news and a sign we could see a re-test of the late-November high of $2721. Dovish central bank decision between now an

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