by Alasdair MacLeod
Gold hit decade highs on Wednesday, trading as high as $1818.5 on the spot market, and $1829.8 on the Comex August contract. Silver spiked to $19 spot and $19.45 for the active September contract. Since then, profit-taking has pulled prices back. In early morning trade in the European time zone gold was trading at $1803, up $29 from last Friday’s close, and silver at $18.65, up 65 cents on the week.
Our next chart shows the gold price and Comex open interest moving up in tandem, with open interest appearing to have further upside.