Gold And Silver Continue To Set Record Highs

GOLD

This morning, we saw Gold moving higher in all the overseas markets. When trading moved to India, Gold moved over $3,700 on heavy buying. India is clearly dumping its U.S. Dollar holdings and buying Gold. Plus, as we approach the wedding/festival season in India, retailers are aggressively purchasing Gold jewelry.

At 11am PT today, Gold is up $68 per ounce, trading at $3,746 on heavy volume.

SILVER

Silver is definitely leading the precious metal sector higher. Demand, especially from China and India, is driving the value higher. After breaking through the $40 resistance level Silver continued to move higher towards the $50 level.

At 11am PT today, Silver is trading at $44.02 per ounce, up $1.12 on excellent volume.