Both Gold & Silver Holding Above Support Levels

GOLD

The Gold price stayed above $4,970 per ounce in overseas trading this morning. Gold moved briefly higher after the U.S. open to $5,023 before seeing some light profit-taking. Yesterday’s January Federal Reserve minutes didn’t have much of an effect on the Gold price.

At 11am PT today, Gold is trading at $4,980 per ounce, down $10 on average volume.

SILVER

Silver has traded between $76.37 and $79.60 in overseas and U.S. trading today. Silver needs to build a firm base between $75 and $80, and hopefully it will do that within the next week.

At 11am PT today, Silver is trading at $77.80, up $0.55 on average volume.