Gold and silver continued to surge yesterday with gold up 1.6% and silver up over 4%. They have continued to rally in Asia and early trade in Europe.
It ain’t over til it’s over.
That was the message from investing legends Warren Buffett and George Soros yesterday, and the market is taking heed today.
Gold was down $13.90 to $869 yesterday and silver was down 43 cents to $16.73. Gold traded flat in Asia and has fallen marginally in early trading in Europe. But with oil prices rising and inflation pressures increasing internationally, gold will be well supported at these levels.
After last week’s more than 3% gain in gold, gold surged to nearly $890.00 in early trading in Asia prior to succumbing to subsequent profit taking. The London AM Gold Fix at 1030 GMT this morning was at $887.25, £453.91 and €573.60 (from $863.50, £434.64 and €556.74 on Friday).