Gold continues to push higher and took out resistance of $1,050/oz yesterday and moved toward $1,060/oz before retreating slightly. With investors continuing to allocate funds into the gold market, the next target is likely to be an assault on the psychological $1,100/oz level. Increasing concerns of a double dip recession and of the outlook for major currencies is leading to continuing robust investment demand (significant gold ETF demand in recent days).
Silver is shadowing gold’s progress and is currently $17.74/oz.
Platinum Group Metals
Platinum is currently trading at $1,334/oz, palladium is $315/oz and rhodium is $1,575/$1,75/oz.
Find out First – Register Now For GoldCore’s Exclusive Market Updates