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Gold and silver are both trading around key levels at the moment of $2,000 and $25 per ounce respectively. Having already posted strong gains in the past two months, both metals continue to be supported by strong fundamentals, and could be poised for a further breakout.
UK inflation remains in double digit territory following the latest figures released today. At 10.1% annually, inflation is proving increasingly sticky, and will give the Bank of England more cause for further rate hikes at their next meeting.
A weaker US dollar has helped keep gold and silver prices high in the past few weeks. Despite calmer markets following the recent banking crisis, gold and silver have maintained recent highs thanks to the falling value of the dollar.
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