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Decade highs for gold
Gold hit decade highs on Wednesday, trading as high as $1818.5 on the spot market, and $1829.8 on the Comex August contract. Silver spiked to $19 spot and $19.45 for the active September contract. Since then, profit-taking has pulled prices back. In early morning trade in the European time zone gold was trading at $1803, up $29 from last Friday’s close, and silver at $18.65, up 65 cents on the week. Our next chart shows the gold price and Comex open interest moving up in tandem, with open interest appearing to have further upside. image Open interest has some way to go before we can say that gold is overbought by ... (full story)