Gold
Gold regained a lot of ground yesterday, breaking through $940. News
from the Federal Reserve, that they are to keep interest rates at
record lows put the dollar under pressure and it gave up some of its
recent gains. If the dollar remains under pressure, which is almost
certain given the Federal Reserve’s continuing cheap money policies
then the outlook for gold remains bullish. Many investors
internationally will look to move some of their wealth into the safe
haven asset to hedge against inflation. Gold is currently trading at
$943/€672/£573.
Silver
Silver also rebounded with a healthy kick yesterday and moved through $14 and is currently trading at $14.18/€10.10/£8.63
Platinum Group Metals
After losing more than $40 of its value in the early part of this week,
platinum moved back above the $1200 level overnight. Palladium is
testing resistance at $250 and a move to the upside might be seen in
the coming weeks. Rhodium is currently trading a bid/offer of
$1325/$1450.
