Gold & Silver Commentary – 11Nov

Posted: 11 Nov 2009, 5:41pm (PRECIOUS)


Gold finished ever so slightly to the upside in trading, with continued follow through since confirmation that US interest rates were likely to stay low for the foreseeable future. The Gold minute chart shows trading has flirted in and around the $1,100 levels since Monday.

Gold has risen for eight successive sessions, spurred on by a falling US Dollar, and comments that US interest rates will remain low.

Timothy Geithner remains in the spotlight as he confirms that he believes a strong dollar is paramount for the health of the US economy. He spoke in Japan last night, and heads off to Singapore today.

Be aware that we have the weekly jobless numbers tomorrow in the US.

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