Numbers came out today showing inflation for the UK higher than anticipated. Greece was able to raise over 650 million euros without raising interest rates, and Germany is positive about it’s rising exports.
With a little more stability under the Euro, investors came back away from the dollar for now.
Gold is more affordable for the rest of the world when the dollar slides, that mixed in with profit taking made evident by the 6 metric tons of the yellow metal being shed by the spdr (GLD) has gold slightly up at $1367/oz.
It reallys seems that a solid foundation is being built right here for both gold and silver. The PGA’s platinum and palladium have both been heading higher(plat $1828/oz, pall $814/oz. in spite of the other two precious metals standstill over the last week.
Hold strong in your metal holdings, all the fundamentals are pointing higher for this year.