Gold Sets Another All-Time Record High Of $2,590 In Overseas Markets

GOLD

This morning in overseas trading, Gold reached a high of $2,590.20 before seeing short-term profit-taking by traders. Both physical and futures demand for Gold remain strong worldwide. The weaker U.S. Dollar should help keep the Gold price above $2,470 today.

At 11am PT today, Gold is trading at $2,582 per ounce, up $1 on good volume.

SILVER

Silver reached a high of $31.16 per ounce before seeing selling in London, driving the price down below the $31 per ounce level. After last week’s 10% rally, Silver needs to consolidate above the $30 per ounce area for most of this week.

At 11am PT today, Silver is up $0.12 per ounce, at $30.82 on excellent volume.