Gold and Silver Prices rose against a weakening US Dollar in London on Wednesday morning, pushing higher as Asian shares ended the day lower and European stock markets held flat.
"A close above $1097 today will give gold its sixth consecutive quarterly gain," says the daily note from Mitsui's London team.
"Silver fixes higher in Europe, gold firm," says a Reuters headline, repeating Tuesday morning's news.
"Spot Gold in Euros remains well bid and did not even [dip to] our previously forecast €800 support region," writes Axel Rudolph, technical analyst at Luxembourg's Commerzbank, in his latest weekly report.
Staying "short-term bullish" on silver, "We remain medium-term neutral as long as the Silver Price remains contained within its three month resistance line at 17.97 and the 15.59 late-Feb. low," says Rudolph.
Adding 7.7% against both the Euro and Pound Sterling since the start of Jan. 2010, the Gold Price today rose above $1110 per ounce for Dollar investors.
Silver today came within 10 cents of a 10-week high at $17.61 per ounce, some 4.1% higher from the first-quarter's start.
"Whenever Gold falls we see good physical buying coming in," the Reuters news wire quotes one Europe-based trader.
"Even on the private customer side, there's pretty good demand for coins and bars."
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