Hedge Funds Moving In Gold ETF’s & Equities
The rally continues as hedge funds are moving in Gold ETF’s and equities. Gold reached a high of $1,280 this morning before seeing some light short-term profit taking. The U.S. Dollar Index dipped below 96 this morning, which also held the Gold rally. At 11am PT today, Gold is up $1,278 per ounce, up $8 on nice volume.
Silver briefly dipped below the $15 support level, reaching a low of $14.90 before seeing major bargain buying. Silver appears ready to firm up between $15.00 and $15.20 per ounce. At 11am PT today, Silver is trading at $15.22, up $0.19 per ounce on excellent volume.