April Gold closed up 6.6 at 1675.9. This was 13.9 up from the low and 6.9 off the high.
May Silver finished up 0.614 at 33.098, 0.152 off the high and 0.713 up from the low.
The gold market also waffled around both sides of unchanged before the bull camp definitively gained control over prices. Like a host of other physical commodity markets, traders were up beat toward global demand as both Chinese and US economic readings provided some optimism. It is also likely that definitive gains in equities and minor support from the currency markets added to the bullish track in gold prices today. Relatively speaking gold might have lagged behind silver and that might keep up the chatter that gold is set to lag behind silver as the global recovery becomes more entrenched.
Silver prices seemed to outperform the gold market today, with silver at times managing a rise of roughly 78 cents above last Friday's close. Silver was clearly lifted by a broad based wave of commodity buying which was probably the result of favorable Chinese PMI readings and a range up trade in US equities. In the end, a weak Construction spending number from the US was simply discounted in favor of an as expected US ISM result. At times today the May silver contract managed to reach the highest level since March 14th.
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