After some light profit-taking in European trading yesterday, dip buyers were quick to step in and that is seeing gold extend its run higher again today. The precious metal is up another 1.3% to a fresh record high of $4,196 as it closes in on the $4,200 mark next. A softer dollar today is helping to feed into the move higher in prices as well. Gold now looks poised for nine consecutive weeks of gains. 🔥
Elsewhere, silver is also rallying back after the drop yesterday with prices up 1.9% to $52.40 currently. In similar fashion, the precious metal is also eyeing nine straight weeks of gains as the hot run stretches on in October trading.
But as mentioned here, November might prove to be a trickier period – at least in terms of seasonal patterns.
This article was written by Justin Low at investinglive.com.