Gold retakes $1250 and Silver $20

Both Gold and Silver put in a strong performance overnight in COMEX trading with Gold breaching the important $1250 level to be up over 2% and silver regained its $20 handle with a rise of 3.6%. The rise has been ascribed to to a lower US$, which fell below the important 80 support level on the USD Index (The U.S. Dollar Index® is computed using a trade-weighted geometric average of six currencies) this fall also pushed Oil prices to a 6 week high.

charts from goldprice.org