Gold has now regained the form it saw in 2009 to start the year off with a $80 rally from $1,070 to $1,150 as the USD weakens against a basket of other major currencies.  The USD had gained momentum heading into 2010 but has lost some steam with the Euro/USD trading from $1.42 to $1.45 increasing the appeal for the precious metals markets.  Silver is actually outperforming Gold here as this market trades up to a high of $18.70.  This market couldn’t get passed the $18.50 market last year but so far has been doing quite well now looking to head to $19.  It seems that the sell off to end 2009 was a huge buying opportunity for some investors and now is looking back to form in the new year.

This entry was posted on Tuesday, January 12th, 2010 at 4:52 am and is filed under Metals. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.