Precious metals soar as Fed stays dovish and Americans head into Iraq

|By:, SA News Editor

A nice-sized rally has turned into a melt-up for the precious metals and the companies that pull them out of the ground. Gold is up 3.9% to $1,319, its highest level in two months, and silver is ahead 5.7% to $20.90. GLD +3.6%, SLV +5.4%

The gold miners (GDX +4.7%), and the silver miners (SIL +6.1%).

A dovish interpretation of the FOMC news from yesterday makes for a nice excuse, as does the President's move to send 300 military advisers to Iraq to try and head off an all-out civil war there.

Gold and silver ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, ZSL, SGOL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, DGLD, AGOL, OUNZ, TBAR, USV, UBG, GYEN, GLDE, GLDS, GLDL, GEUR, GGBP

Gold and silver miner ETFs: GDX, NUGT, GDXJ, DUST, GLDX, JNUG, JDST, RING, GGGG, PSAUSIL, SLVP, SILJ