Gold steady today after yesterdays highs.

Tuesday, 19 April 2011 02:23

Gold hovered around the 1,500 level after hitting new highs yesterday off the back of the S & P downgrade of the US. The 14 day RSI rose to 71.204, above the level of 70 that most believe as a sign that prices are ready to retreat.

Immediate delivery bullion gained 32 cents to $1,495.63 an ounce in London this after touching an all time high of $1,497.90 an ounce yesterday. Gold for June delivery in New York rose 0.2 % to $1,496.30 an ounce after reaching a record $1,498.60 yesterday.

Silver for immediate delivery fell 0.3 % to $43.27 an ounce after rallying as much as 1.2 % to $43.525 an ounce yesterday, the highest price since 1980. Palladium was up 1 % at $743.25 an ounce and platinum rose 0.3 % to $1,787 an ounce.