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Precious metals move back above key price points aided by weak US dollar
Gold and silver broke back above the key levels we had spoke about on Friday as being critical to avoid being trapped in a range and experiencing another pullback. That level in gold was $5,000 which gold traded above today after opening at $4,989. Spot gold is currently showing a gain of around $100 or 2% at around $5,063 at the time of writing. Our line in the sand for silver was $80 and after opening at $78.61 took out that level of resistance and is exhibiting a more aggressive rise than gold. Spot silver is currently up around $5.60 or 7.19% trading near $83.50. Both metals were aided by a very weak dollar today ... (full story)
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