“We are seeing some renewed interest in gold,” George Gero, a New-York based precious-metals strategist at RBC Capital Markets LLC, said in a telephone interview. Investors are “responding to weak economic numbers and the slump in the U.S. equities,” he said.

Eoin Treacy's view

Gold posted an upside weekly key reversal last week from the lower side of its more than yearlong range and is following through to the upside this week. A clear downward dynamic would be required to question potential for an additional reversionary rally. 

Silver has been subject to more volatility but is at least holding the $17 area and a sustained move below it would be required to question potential for some additional upside.