28 February 2011
Silver appreciates over 1% as Gold remains trapped in narrrow range
Gold Fixes at $1,411 (£868.68) Silver Fixes at $33.49 (£20.62)
Continued political turmoil in Libya and a weaker US dollar failed utterly to excite Gold in trading today. In the normal course of events, poorer than expected house price numbers in the US may have caused greater ripples in the market, but middle east events continue to dominate market direction. However in the absence of any particular developments today, Gold failed to find traction.
Silver however, living up to its recent reputation for out performance of Gold, showed a more energy, with a troy ounce of the white metal changing hands for a hair under $34 at time of writing, up some 67 cents.
The debut of our benchmark BullionSupermarket.com Silver 1 ounce Bars in the UK auction market this week has seen solid premiums being bid, further underlining the robust demand in the physical markets at the present time.