Gold Is Surging

After getting beat down in the face of better-than-expected jobless claims data this morning at 8:30 AM ET, gold has recovered all of its losses and is surging.

The shiny yellow metal just blew through $US1360 an ounce to the upside after trading as low as $US1317 earlier.

Now, it’s trading around $US1363, up 2.2% on the day. Silver is up 5.5%.

Someone came into the market in just the past few minutes and placed a big trade, as the volume sub-graph in the chart below shows.

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