Both Gold & Silver Showing Excellent Price Support

GOLD

October’s Consumer Confidence Index dropped to 88.7, that’s weaker than expected. Economists had been looking for a relatively smaller decline to 93.5. This is the lowest level consumer confidence has reached since April. This news drove the Gold price above $4,150 before seeing some light profit-taking.

At 11am PT today, Gold is trading at $4,140 per ounce, up $20 on strong volume.

SILVER

Silver reached a high of $51.79 on renewed buying in India, then saw selling in London and New York. Right now, the markets are showing excellent support for Silver above the $51 per ounce level.

At 11am PT today, Silver is up $0.25 per ounce, at $51.20 on excellent volume.