Will gold ever tire from soaring?!

Precious surged to the upside in yesterday's trading session affected by strong demand heading towards metal markets like stocks and commodities; meanwhile, throughout yesterday's trading confidence overshadowed markets from Hong Kong to NY, positive data from Asia through Europe and into the US. More stability and growth throughout the industrial sector was seen, European unemployment held at 9.8%. While Chinese and American industrial sectors continued to grow in November, fueling more metal gains, especially for copper and platinum.

As for indices; U.S. stocks advanced strongly trailing their Asian and European counterparts; The DJIA managed to close higher by 1.23%, whereas Britain's FTSE index closed at 5312.17 rising by 2.34%, meanwhile Germany's DAX overcame them all by rising 2.68%. Today, we also witnessed Asian stock indices rise; where the Nikkei index spiked by 0.38%, meanwhile the Hang Seng index followed and gained more than 1.15%.

Crude also appreciated throughout yesterday's trading session, where it reached $79.00 per barrel. Commodity indices also appreciated; where the S&P GSCI index closed at 517.83 rising by 5.25 points from opening; meanwhile, the RJ/CRB index spiked due to the precious metals' effect, closing at 279.34 gaining by 1.94 points.

Present expectations are for further improvement to be witnessed within the global economy; thus, in its role it could cause inflation levels to surge, thereby pushing investors and many other sides to purchase precious metals. The depreciation of the dollar and Japanese yen are causing numerous central banks and portfolio managers to head towards purchasing gold as a safe haven and diversifying their reserve; adding onto the bullish direction's intensity on gold.

There is no doubt that most current economic conditions support investors' gold buying. Meanwhile, the rise of commodity and stocks indices, alongside low interest rates are threatening inflation; thus, pushing investors towards gold since the credit crisis and Dubai's issues are increasing gold's attractiveness as a safe haven. Meanwhile, the uncertainty overshadowing the global economy is pushing investors towards gold as well.

In addition, gold traded to the upside throughout yesterday's trading session at $1202.00 per ounce and closed with gains by 1.45% at 1196.00 in New York. As for today, it proceeded to record historical prices surpassing $1215.00 per ounce, where it is presently trading above $1200 as of 02:22 EST and maintains trades at $1211.10 per ounce.

Meanwhile, silver and platinum also managed to record major gains yesterday and today; silver is currently trading at $19.23 per ounce, whereas platinum is trading at 1489.00 as of 02:22 EST. The economic data which insured the industrial sectors' stability in Europe and U.S., played a role in lifting platinum; whereas, investors and speculators' appetites for profit is strong, pushing silver to record massive gains, since yesterday it recorded the highest of $19.30 per ounce.

We still expect precious metals to continue rising; however, with every rise gold is recording fears of intraday short term volatility and fluctuations are increasing with embedded heavy bearish corrections. At the same time, we hold onto our previous expectations for gold being destined for further gains over the medium term, since signs of prices halting bearish movement and inflationary hints on the long term have started to appear.