Both Gold And Silver Trading Above Support Levels

GOLD

As the Israeli-Hamas conflict heats up, the Gold price is establishing a firm base above the key $1,850 per ounce support level. Gold did reach a high of $1,863 before seeing some light short-term profit taking. It’s surprising not to see Gold higher in the face of a falling U.S. Dollar and interest rates, while what could be a Middle Eastern war looms on the horizon.

At 11am PT today, Gold is trading at $1,860 per ounce, up $6 on strong volume.

SILVER

Silver has met strong resistance as it tries to break above the $22 per ounce resistance level. Physical demand for popular Silver investment coins has been increasing at the current low premium level, but breaking above the $22 level is key to this rally.

At 11am PT today, Silver is trading down $0.08 per ounce at $21.78 on excellent volume.