Gold Soars to 12-Month Highs Amid Weak US Economic Data.

Gold and silver prices hit 12-month highs after weak US economic data and a drop in US Treasury yields. The data supports the US monetary policy doves who want lower interest rates from the Federal Reserve. The technically related precious metals bulls are also fueling the rally. Gold prices are now within striking distance of the all-time high of $2,078.80. The US dollar index is solidly lower, and Nymex crude oil prices are slightly lower. The silver bulls have the strong overall near-term technical advantage, while copper bulls are fading this week.