Gold for June delivery added $3.80 to settle at $1,498.90 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,506.50 and as low as $1,493.80 during Wednesday's session, while the spot gold price was adding $3.40, according to Kitco's gold index.
Silver prices jumped 54 cents to close at $44.46 an ounce after breaking the $45 level.
Gold has surpassed many analyst expectations for 2011, with Brian Hicks, co-manager of the U.S. Global Investors Global Resources Fund, increasing his price target to $2,000 in 18 months and silver to $100.
In 2009, "we had central banks starting to buy," says Barisheff, "and once you
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