Precious Metals Jump, “Everything Points to Even Higher Prices”

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DG365FD46564GFH654FU898 Gold and silver futures settled substantially higher at the COMEX on Thursday amid a broad-based rally in commodities and weakness in the U.S. dollar. COMEX gold for February delivery climbed $26.60, or 1.6%, to $1,726.70 per ounce – its highest closing level since December 7, 2011. Silver futures finished higher by $0.62, or 1.9%, at $33.74 per ounce – its best settlement since November 16, 2011. The U.S. dollar pared its losses this afternoon, but remained lower against a basket of the world’s leading currencies. The euro held near unchanged at 1.3107 against the greenback. Commenting on the strength in precious metals, Commerzbank analyst Daniel Briesemann stated that “At the moment everything points to even higher prices, given the strong risk appetite, the better mood among market players, the strong equity markets and the weak dollar.” Continue Reading: Precious Metals Jump, "Everything Points to Even Higher Prices"