Albeit thin volume gold settled marginally higher yesterday with some support coming from rallies in equities and crude oil. Following the sharp decline seen in the previous few sessions bargain hunters came into the market, ready to buy on the dips effectively halting the profit taking. In addition gold showed an 'Inside Day' with the high and low engulfed by the previous day's range which could be interpreted as consolidation before the next move. Silver moved higher even outpacing the yellow metal on the back of higher equities and a rebound in copper prices.

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Gold & Silver

METAL

LEVEL

CHANGE

GOLD

991.80

(+0.85)

SILVER

16.210

(+0.21)

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