Tension over Syria is today's excuse for buying as the metal pops 1.6% to $1,415 per ounce. Gold's now up about 18% from its late-June low in the $1,200 area. GLD +0.9% premarket.
Technician Michael Kahn looks at his charts and says gold broke through key resistance last week and now has its sights set on its former price floor of $1,542.
Silver's support and resistance levels are not as well defined, says Kahn, but the metal up is tandem with gold this morning, +1.5% to $24.10 per ounce. SLV +0.15%.