Gold prices push above $1,500 on chart-based buying

New York (Oct 24)  Gold and silver prices have moved to new daily highs, with gold back above the psychologically important $1,500 level, in late-morning dealings Thursday. The two safe-haven metals continue to have an overall bullish technical posture, which has invited some chart-based buyers to step up today. The U.S. stock market has come off its daily highs and the stock indexes are now trading mixed to weaker, which is also encouraging buyers back into the gold and silver markets. December gold was last up $7.10 at $1,503.00.

By 11:10am EST spot gold bounced $8 to $1,501, while spot silver was up more than 1% at $17.78.  However, spot plattinum was flat at $923.

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