Silver prices advance, though spread over gold still a long way off

Silver prices typically advance when gold futures rise, but event though silver futures were trading higher on Monday, Oct 12, 2009, gains are only matching gold price swings as the dollar continues to lead metals trading action.Silver contracts rose 0.145, or 0.82%, to trade at $17.835 by 1pm ET Monday despite the Columbus Day holiday in the US and Thanksgiving holiday in Canada. But all that glitters seems to be gold, which was trading up $8.90 per ounce, or 0.85%, at $1057.50, looking more like it would begin a new week's rally in precious metals all over again.
Standard Bank commodity analysts said that while the dollar was greatly influencing the price swing for silver and gold, other factors were at work.
The metals analyst at Standard Bank held to their forecast of $1,100 gold in the fourth quarter of 2009, citing growing demand for the precious metals by commodity investors.