Gold, silver and miners were all posting strong gains Tuesday morning off the back of good news on Spanish bonds and the German economy, as well as a 9.3% jump in U.S. November housing starts, albeit from close to record lows, to a seasonally adjusted 685,000 — the highest level since April 2010. Building permits surged 5.7% from October and a whopping 20.7% since last November.

Spot gold was back over $1,600 per ounce and more than 1.3% higher at 10:50 a.m., with a bid price of $1,614.90 and an ask price of $1,615.90. Spot gold traded as high as $1,618 and as low as $1,602.20 this morning. The London afternoon reference price fix came in at $1,613.50, according to Kitco market data.

Spot silver was up more than 2.35%, bid at $29.48 per ounce with an ask price of $29.58. The morning high as of time of writing was $29.62, and the low was $29.11. Tuesday’s reference price was set at $29.28 in the London a.m.

Gold bullion prices had rallied in the London a.m., as well, up 2.8% from last week’s low, though one trader noted that liquidity remained light, according to BullionVault’s London Gold Report. “Short-term the (precious metals) complex is likely to remain vulnerable to bouts of long liquidation amid concerns over funding levels,” an analyst at Swiss refiner MKS said.

Turning to exchange trading, gold and silver trusts were making good headway.

• The SPDR Gold Trust (NYSE:GLD) was showing gains of around 1.5%.
• The iShares Gold Trust (NYSE:IAU) was up some 1.35%.
• The iShares Silver Trust (NYSE:SLV) was around 2.8% lower.

Gold and silver mining ETFs were surging higher.

• The Market Vectors Gold Miners ETF (NYSE:GDX) was moving sharply higher, up more than 3.6%.
• The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) was up over 6%.
• The Global X Silver Miners ETF (NYSE:SIL) was more than 4.1% higher.

Gold mining shares also were showing strong gains.

• Agnico-Eagle Mines (NYSE:AEM) was showing gains of some 4.8%.
• Barrick Gold (NYSE:ABX) was up around 4%.
• Eldorado Gold (NYSE:EGO) was up nearly 2.5% higher.
• Goldcorp (NYSE:GG) was nearly 3.6% higher.
• Newmont Mining (NYSE:NEM) was more than 2.7% higher.
• NovaGold Resources (AMEX:NG) was up about 4.5%.

Silver mining shares were surging higher as well. Shares of Hecla Mining (NYSE:HL) were recovering strongly following news of an accident at its Lucky Friday Mine in Idaho last week in which seven miners were injured after a “seismic event” resulted in a rock burst. The U.S. Mine Safety and Health Administration has temporarily shut down the mine as it conducts its investigation.

• Coeur d’Alene Mines (NYSE:CDE) was moving higher, up around 6.3%.
• Hecla Mining was up more than 7.8%.
• Pan American Silver (NASDAQ:PAAS) was some 4.7% higher.
• Silver Wheaton (NYSE:SLW) was showing gains of more than 5%.
• Silver Standard Resources (NASDAQ:SSRI) was up around 5.8%.

As of this writing, Andrew Burger did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.