Gold rallies, silver hits three year high

In the London markets, gold prices rallied in early afternoon trade, while silver powered up to its highest level in more than 3 years, with both metals driven higher by physical and speculative buying, analysts said.

At 3.19 pm, gold was up US$4.33 at 365.58 per ounce, while silver charged up 14 cents to US$5.19 per ounce, after briefly reaching US$5.22 per ounce, its highest level since February 2000.