Gold Rallies For A Fourth Day In A Row

GOLD

For the fourth trading day in a row, Gold has been rallying higher from the $1,788 low it reached on Feb 3rd. While both interest rates and U.S. Dollar Index remain unchanged at current levels, we are seeing excellent demand for many precious metals. Gold reached a high of $1,337 in earlier U.S. trading before seeing some light profit taking. At 11am PT today, Gold is up $7 per ounce, trading at $1838 on good volume.

SILVER

Silver followed Gold higher today, staying above the key $23 level all day. Traders are looking forward to tomorrow’s release of January inflation numbers, which could really send the precious metal price higher. At 11am PT today, Silver is trading at $23.43 per ounce, up $0.08 on excellent volume.