Once again noted strength in gold and silver prices appears to be taking place in a vacuum, with little change in US interest rates, the dollar, and energy prices overnight.
However, the bull camp is likely benefiting from a surprise jump in Chinese first-quarter gold consumption which increased by 5.9% from year-ago levels.
Apparently, mainland China's March gold imports through Hong Kong increased by 40% from February giving credence to news earlier this month that Chinese investors were seeking to hold gold to avoid weakness in the domestic currency...[MORE]
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