Gold & Silver Up on Positive Sentiment

This morning gold is trading at 1614.10 regaining some momentum. On COMEX, the metal gained on bargain buying after the sharp correction in prices last week. A flat dollar against the euro also supported the upside in prices. In global markets, gold also received support as Chinese buyers retuned to the market after the Lunar New Year holidays. US markets were shuttered yesterday for the Presidents Day Holiday, leaving volume light.

Over the weekend the G20 summit in Moscow concluded with a fairly lackluster statement, which left out any comments on Japan. The G20 leaders backed Prime Minister Abe’s programs for aggressive stimulus to pull the Japanese economy out of deflation.  Global finance chiefs signaled Japan has scope to keep stimulating its stagnant economy as long as policymakers cease publicly advocating a sliding yen. The message was delivered during weekend talks involving finance ministers and central bankers from the Group of 20 in Moscow.To Continue Reading.....