Friday, October 28, 2011

Silver and Gold on the move.

Gold ended the week at $1747.20 per ounce while silver posted gains of 0.3% to finish at $35.29 per ounce.

On the week, gold rallied for approx $105 or 6.3%, while silver futures surged $3.65 or 11.5%.

Both metals had fallen over 30% during the recent market swoon but they are climbing back, silver especially has had an impressive move.

I remain bullish on both for the foreseeable future and i sell calls or puts on them as the market dictates.

Crude oil futures, closed at $93.32 per barrel.

Finally, Natural gas rallied for 4.1% to close at $3.92.
Natural gas Futures were aided by cold snap that has hit the east coast. I play nat gas with the ETF UNG, I believe natural gas it is a great multi-year play at these cheap prices. Out of all commodities natural gas might be the only one that hasn't rallied, until now that is.

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