Precious Metals Futures Update

Gold found firmer ground, rallying strong into new highs.

With no event specific news driving the market, the majority of the reason for the rally explained by seasonal Asian demand for the up and coming festivity. Silver fell from it’s highs, however, still remains in bullish territory.

With major support found in Gold, the yesterday's main session saw predominantly institutional and fund buying, as momentum seems to have had a shift into bullish territory.