Gold hit a fresh record high of $1011.95 in early trading boosted by continued weakness in the US dollar which in turn posted another record low against the euro. The move was accentuated by additional buying power coming into the gold market with investors using the pullback as an opportunity to go long. That in turn was possibly based on growing concerns about whether the current level of the equity market can be sustained after the last few months' rally. Silver moved higher with gold initially as a consequence of US currency weakness testing $17.000 level. However, the white metal gave back most of its gains later on as the greenback recovered.

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Gold & Silver

METAL

LEVEL

CHANGE

GOLD

10004.85

(+9.75)

SILVER

16.740

(+0.07)

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