Daily Gold and Silver Report - Nov 19, 2009

19 November 2009 @ 07:34 am EDT

Gold breached the $1,150 level to hit a new high, albeit it has fallen back in early trade. The weekly chart below highlights the sharp rally we have seen, so now it remains to be seen whether the $1,150 level will be the high point, or will further money come in at these levels. Another decline in US Dollar index is helping to keep prices of gold up. The 10% rally this month was kick started by the Indian central bank buying 200 tonnes.

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