Gold closed up +11.10 to 1308 on moderate volume; silver was up +0.20 to 20.06 on heavy volume. Both metals broke higher towards the end of the Tokyo session with gold in the lead. Gold managed to set a new cycle high, while silver did not. Neither metal held onto all its gains, retreating into the close. While PM doesn't look like its a house afire, it does seem to be chewing higher, although I would have liked to see more movement on a day where the buck was so badly hurt, and more volume. And a more bullish close, preferably above its 50 MA.