Gold up for 8th session in a row and holding above $1,300
It’s great to start off the New Year with Gold up for the 8th straight session in a row and holding above the $1,300 per ounce support level. This is partly due to the weaker dollar (that’s down 5 straight sessions in a row) and also for the strong overall demand for the lustrous metal. Gold’s demand was so strong today that it was showing the highest activity in futures markets since September 20th. At At 11am PST Gold is trading at $1,316, up $10 on huge volume.
Today Silver is out pacing Gold’s gains by about 0.4% and it’s fantastic to see Silver not only stay above the $17 level, but also continue to climb above it. The activity in this market is also very strong given the factors listed above in the Gold section. It’s hard to not kick off the New Year enjoying the strong fundamentals of precious metals given that 2017 was already a fantastic year. We look forward to seeing another great year in returns for 2018. At 11am PST Silver is trading at $17.23 up $0.20 on very strong volume.