Gold and Silver Report Wednesday 4th November 2009 | IBT Commodities & Futures

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Gold and Silver Report Wednesday 4th November 2009

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04 November 2009 @ 09:01 am ET

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Gold reached the all time high of $1087.90/oz yesterday convincingly breaking out of the recent consolidation range. The rally was supported by news of the Indian central bank purchasing gold from the International Monetary Fund and trumped a slight appreciation in the US dollar which usually adds downside pressure on the price of gold. Silver moved higher with gold closing at the $17.155/oz and crossing above all moving averages

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