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The late Thursday afternoon rally in gold on the Comex didn’t have much follow-through during Far East trading on Friday. However, activity picked up once London opened for business, and…with the exception of three attempted selloffs that failed…it was a solid up day through London, Comex floor trading, and the Globex electronic trading that followed. Silver’s price pattern was the same as gold’s. As I said yesterday, it was critical that both metals held support above their respective 50-day moving averages…and it’s obvious that they did. Volume yesterday was around 112,000 contracts, net of switches.

Money Morning Investment Director Keith Fitz-Gerald is currently leading an investment trip through China, taking in that country’s scenery, as well as its investment opportunities.