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.
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