Bears Take A Run At Gold Price

GOLD

The bears took a run at the Gold price yesterday afternoon and last night during Asian trading. Gold broke below the key $1,800 level and hit a low of $1,788 before bargain buying and short covering came in. During European and U.S. trading Gold gradually moved back above the $1,800 per ounce level on fresh buying. At 11am PT today, Gold is trading at $1,809 per ounce, down $1 on good volume.

SILVER

Silver broke below the $19 level, reaching a low of $18.84 before finding support. As Gold recovered, Silver moved back over $19, but never reached yesterday’s high of $19.40. At 11am PT today, Silver is trading at $19.20, down $0.12 on normal volume.