Gold
Gold touched $1,015/oz this morning before retreating to $1,002/oz and
then rebounded back to that figure again. Gold needs to re-test recent
highs above $1,020/oz to plough its own furrow rather than taking its
direction from the vagaries of dollars fortunes. The Federal Reserve
left its target rate for overnight loans between banks in a record-low
range between zero and 0.25 percent, and said it will stay
"exceptionally low" for an "extended period." This means that the
opportunity cost of owning gold remains low, the dollar is likely to
remain under pressure and inflation may soon rear its ugly head. Stock
markets internationally have fallen today on concerns that the
necessary withdrawal of the massive stimulus packages could impact the
fragile recovery. Gold is currently trading at $1,014/oz.
Silver
Silver is currently trading at $16.76/oz.
Platinum Group Metals
Platinum is currently trading at $1,320/oz, palladium is $296/oz and rhodium is $1,575/1,675/oz.
