Huge night for precious metals overnight, with gold blowing through USD $1250 and silver back above USD $20

Huge night for precious metals overnight, with gold blowing through USD $1250 and silver back above USD $20. Currently sitting at USD $1265 and USD $20.15, the move was one of the sharpest rallies we've seen in some time, with USD $20 to USD $30 moves almost exclusively occuring to the downside in the last year or so. AUD gold is performing even better, with a weak set of Chinese PMI number yesterday setting the tone for the Aussie battler, which is now trading at USD 0.8765, pushing AUD gold up to $1442. Catalyst for the move was undoubtedly the rumour out of India that they may relax import restrictions on bullion, with Congress President and UPA Chairperson Sonia Gandhi asking the government to look into the matter for appropriate action. full thoughts here (VIEW LINK)