Bears Can't Hold Gold Down

Bears Can't Hold Gold Down

GOLD

As we end the week it would appear that the bears just couldn’t hold Gold down. Despite the strong April employment report showing 263,000 more jobs, compared to an expected 190,000, the dollar is down and the markets are up. I think a lot of weak hands were cleared out this week. At 11am PT today, Gold is trading at $1281 up by $9 on above average trading.

SILVER

Silver is definitely the winner today compared to Gold, even though they are both up. With Silver again playing around the $15 level, and up around 2% today, it’s gratifying to see the support. At 11am PT today, Silver is trading at $15.01 up by $0.35 on very strong trading demand.

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