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29 January 2011

Gold and Silver Prices Jump in Late Friday Trade

Gold Prices Jump up $1335 per ounce, silver follows to $27.98

Gold and Silver pulled back some of this weeks losses on Friday as Gold returned to behavior we haven't seen in a while. Gold actually went up as stocks registered declines of similar magnitude. Though in fairness, civil un-rest in Egypt may have added additional safe haven impetus.

Much has been made of the recent price falls by anti-gold commentators, all the usual suspects, but for some reason sentiment has traded even lower this time around. This seems odd since the damage to bullions bullish charts barely registers a dent.

Meanwhile in the physical market, registered a further rise in premiums on fixed price 1 ounce Gold bars as dealers were quick to re-price inventories on the back of higher prices.

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