Another Wild Night In The Asian Gold Markets

GOLD

Another wild night in the Asian Gold Markets. Gold reached a high of $1,438 on unbelievable trading volume. A major seller appeared at that point and the price quickly dropped to $1,411 per ounce. Then, the buyers came, cleaned up the supply and the price moved back to $1,420 per ounce. The U.S. Dollar is a bit stronger right now and the Gold price is trying to stabilize in the $1,420 area. At 11am PT today, Gold is up $8 per ounce, trading at $1,424 on extraordinarily high volume.

SILVER

Even when Gold was trading at $1,438, Silver couldn’t break above $15.50 per ounce. Right now, the supply of Silver is greater than demand and the professional traders continue to be negative on the short-term direction. At 11am PT Today, Silver is down $0.03 per ounce, trading at $15.38 on good volume.