Both Gold And Silver Trading Over Key Support Levels

GOLD

Gold continues to consolidate while building an excellent base above $4,200 per ounce in all the overseas markets last night. A negative jobs report this morning is giving traders optimism that there will be a rate cut by the Federal Reserve next week.

At 11am PT today, Gold is trading at $4,204 per ounce, up $14 on average volume.

SILVER

Silver stayed above $58 per ounce last night, while briefly trading above $59 in overseas trading last night. Many of the world’s largest depositories are reporting low Silver inventories, which is adding to the demand.

At 11am PT today, Silver is up $0.42 per ounce, at $58.44 on normal volume.