FXstreet.com reports gold and silver prices have rised with the current instability in the financial markets.

Comex gold and have ticked higher on apparent flight-to-safety buying, says Bart Melek, global commodity strategist with BMO Capital Markets. The metals are up despite a stronger dollar, which normally pressures gold and silver, he notes. Gold fell on apparent profit-taking Tuesday when equities recovered a good portion of Monday’s sell-off. But now stocks are on the defensive and gold is up again, Melek notes. Market participants appear to be moving back into precious metals due to ongoing instability in the financial sector, he explains. December gold is $10.90 higher at $891.70 an ounce, while December silver is up 43 cents to $12.705. (ALS)

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