Appetite for gold buying remained high as the dollar continued to decline in Asian trade. Further dollar weakness sees gold extend its run up to fresh highs, hitting highs in 7 of the last 10 sessions. Silver meanwhile hit a 4 week high, and it should be noted that platinum has hit 14 month highs and palladium 15 month highs.
Gold & Silver
- The worlds’ biggest miners say that global production may continue to decline over the coming years, although output may rise next year, taking advantage of rising prices
- Blackrock Investment expect Central Banks to be net buyers in 2009
- Keep an eye out for US retail Sales figures released this afternoon.
Major Economic News
US Retail Sales