Cautious investors took profits after gold breached $318 an ounce on Wednesday, but bugs were undeterred today (Thursday) and loaded up once more to propel the price to nearly $324. The price cooled in the late afternoon on renewed profit taking and closed the New York session just above $321.
June COMEX futures pushed to their best levels since June 2000. Spot gold was last bid at $322.50, a gain of more than $5 and well up on the London afternoon gold fix that was set at $317.15. Spot silver was bid at $4.89, up 8 cents on the day, and well within range of the key $5 level. Silver is seeing its highest price in 15 months.
...