Daily Market Update 1/26/11

Great day for precious metal owners!

Gold, Silver, Palladium and Platinum opened lower and closed on or near the highs for the day. All precious metals were substantially higher today on the following bullish news…

• First, The Congressional Budget Office stated the 2011 deficit was going to be $1.5 trillion and projected the 2012 deficit would be well above $1 trillion.
• Secondly, very conservative Goldman Sachs stated gold would be $1690 within 12 months. 
• And lastly, George Soros stated we are going to have commodity inflation.

Looks like the price correction for all the metals has seen the bottom. 

Barry