Gold Moving Back Above The Key $2,500 Level

GOLD

Gold has traded above and below the key $2,500 level today on rate cut expectations. Last week’s release of the key U.S. jobs report for August cast doubt on how big the Federal Reserve’s long-expected interest rate cut will be next week.
At 11am PT today, Gold is up $7, trading at $2,503 per ounce on average volume.

SILVER

Silver traded between $27.67 and $28.43 this morning as it follows Gold’s market strength. We need to see Silver stay above the $28 per ounce level as it consolidates after recent weakness.
At 11am PT today, Silver is trading at $28.35 per ounce, up $0.41 on normal volume.