Gold Hits A Two-Month High

GOLD

Gold hits a two-month high early Monday of $1,827 per ounce, as concerns about an interest rate increase for the short term have been put on hold. Continued low rates make the precious metal more attractive as an alternative investment. The key $1,835 breakout level is in my sights for later this week. At 11am PT today, Gold is trading at $1,829 per ounce, up $12 on excellent volume.

SILVER

Our Federal Reserve, the Bank of England and the European Central Bank last week indicated that inflationary concerns, which might have been expected to trigger interest rate increases, are taking a back seat for the next few months at least. That inflationary concern helped Silver rally to $24.52 this morning on fresh buying. At 11am PT today, Silver is up $0.40 per ounce, trading at $24.60 on solid volume.