Both Gold And Silver Break Below Support Levels

GOLD

President Joe Biden’s announcement that he wouldn’t seek reelection did not have any bullish effect on the Gold price. Gold as traded between $2,383 and $2,413 most of the trading day. We need to see Gold move back over $2,400 to maintain its bullish short-term directions.

At 11am PT today, Gold is trading at $2,394 per ounce, down $8 on average volume.

SILVER

Silver dropped down to $28.71 before finding bargain buying, and quickly rallied back above $29 on excellent volume. With the weakness in the Gold price staying over $29 is key to the short-term direction of the price.

At 11am PT today, Silver is down $0.15 per ounce, at $29.10 on normal volume.