Gold Continues to be Supported as Green Shoots Evaporate

By: GoldCore

Gold
Gold was trading in the mid $930s in Tokyo overnight but buying in Europe this morning took it over the $940 level. With increasing concerns regarding the sustainability of the fabled "green shoots" and whether the recent recovery in equity markets can be sustained, gold will continue to be well supported. Especially as the relative merits of the individual major currencies (EUR, USD, JPY and GBP) look increasingly like an ugly sister competition. Gold is currently trading at $942.2/£570/€671.

Silver
Silver also dipped overnight to $13.96 but proved to be made of hardier stuff in late morning trading and has pushed upwards to be currently trading at $14.10/ £8.53/€10.04.

Platinum Group Metals
Platinum's hold above $1,200 on Friday was short-lived and it has retraced some of last week's losses and is currently trading at $1,191.
Palladium has also fallen off slightly at $245 and rhodium is currently trading at $1,325/$1,500.

Bullion Services Team

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

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