Traders and investors were spooked a bit Tuesday due to several world developments—and the gold and silver markets were keen beneficiaries. Gold and silver prices ended the U.S. day session sharply higher and hit six-week highs Tuesday. Safe-haven demand, short covering and bargain hunting were featured in the yellow metal. Importantly, Tuesday’s price action on the charts is the strongest evidence yet that the gold and silver markets have put in near-term bottoms, if not major lows. February Comex gold was last up $37.00 at $1,232.00 an ounce. Spot gold was last up $28.30 at $1,233.00. March Comex silver last traded up $0.849 at $17.125 an ounce.
