Wednesday, July 6, 2011

Gold & Silver rise on EU debt concerns

Gold & Silver rose significantly overnight in London & NY trade on the back of Moody's downgrade of Portuguese debt and their continuing concerns about Greek debt restructuring.

Prices for the two monetary metals have retraced all of their losses of recent weeks, with gold confidently back above US$1,500/oz and silver back in the shorts killing zone of US$35+/oz.

Graph from goldprice.org

Graph from silverprice.org

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