We saw a sharp rally in gold breaking above the closely watched $1000.00 mark supported by a decline in the US dollar and a significant advance in crude prices. In addition reports from the US showed a possible division among Fed's policy makers on the exit strategy and that sparked gold buying as an inflation hedge. Silver moved higher with gold on the same inflation fears but was also helped by higher copper prices dubbed the bellwether of industrial metals.

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Gold & Silver

METAL

LEVEL

CHANGE

GOLD

1007.52

(+14.22)

SILVER

16.707

(+0.55)

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