Flight to safety seen driving gold, silver back to April crash levels

Summary: Wholesale gold hit its highest level since mid-May on concerns of an impending US attack on Syria. Crude oil has also hit 2-year highs to above $110 per barrel. Possibility of US military action is driving investors to safe-haven assets like gold and silver. Stocks were mixed, while yields on Treasury notes have taken a hit in the past few days. On Thursday, gold is off its Wednesday high and back near $1400. Investors will be carefully watching new economic numbers. Poor home sales numbers released Friday is another possible reason for gold and silver’s recent rally to almost where they were when the metals crashed this past April.  Read more…