Both Gold And Silver Hold Current Price Levels On Negative PCE News

GOLD

Today, the PCE price Index (Personal Income and Outlay Report) for March was released. The PCE showed an increase to 2.7% in March. This is negative news for precious metals and Gold dropped from $2,348 to $2,333 after the release. Gold is finding excellent price support above $2,330 and strong resistance at $2,350 per ounce.

At 11am PT today, Gold is up $2 per ounce, trading at $2,338 on average volume.

SILVER

Silver is trying to break out of its current trading range, reaching a high of $27.76 this morning before seeing heavy selling on the PCE news.  Silver is showing excellent support above the $27 per ounce support level.

At 11am PT today, Silver is down $0.18 per ounce, trading at $27.30 on normal volume.