Metals Rally On Strong Chinese Economic News

GOLD

Gold rallied from its 3-week low of $1,900 today on better-than-expected economic data from China. The Chinese Yuan rallied against the U.S. Dollar, which helped Gold priced in U.S. Dollars. Gold quickly jumped $20 before seeing light profit taking during Asian and European trading.

At 11am PT today, Gold is trading at $1,925 per ounce, up $15 on good volume.

SILVER

Silver’s reaction to the Chinese news was more explosive and it jumped $0.50 (over 2%) before seeing some short-term profit taking. As Silver moves back over the key $23 per ounce resistance levels, premiums on the popular Silver bullion coins continue to stay at attractive levels.

At 11am PT today, Silver is up $0.35 per ounce, trading at $23.08 on normal volume.