Gold Seen Pushing Higher After Brief Pause

Gold futures are up 0.5%, with some traders seeing yesterday’s lower close as only a blip in the overall trend higher for the precious metal. “Both gold and silver are rebounding, suggesting both metals may be entering a new leg upwards with gold nearing the $2,250 [an ounce] level along with silver towards $27.25 [an ounce],” Peter Cardillo of Spartan Capital Securities says. Gold is trading around $2,177 an ounce, while silver is up 3% to $25.12 an ounce.