Gold moved higher yesterday on the back of a tumbling US currency with extra help provided by a rally in crude prices. The precious metal's ability to consolidate around the $1000.00 levels as shown on the daily chart by the 'Outside Day' pattern has undoubtedly supported the positive market sentiment. Silver rose with gold even outpacing the yellow metal in percentage terms: 40 cents or more than 2% gains for silver compared with 0.5% advance for gold. The extra booster for silver was the retail sales figure which came in higher than expected fuelling hopes of a quicker than previously thought recovery.

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Gold & Silver

METAL

LEVEL

CHANGE

GOLD

1006.47

(+4.65)

SILVER

16.995

(+0.405)

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