Both Gold And Silver Break Below Test Support Levels

GOLD

Gold finally got around to testing its $2,300 support level this morning. As Gold trading was leaving European markets and moving in the U.S., Gold reached a low of $2,292 per ounce.

At 11am PT today, Gold is at $1,296 per ounce, down $46 on heavy volume.

SILVER

On Gold’s early weakness, Silver broke down below the $27 per ounce support level, reaching a low of $26.94 for a short term. As Gold rallied, the price of Silver recovered and rallied back, reaching a high of $27.50 per ounce.

At 11am PT today, Silver is unchanged, trading at $27.30 on normal volume.