Both Gold & Silver Test Support And Rally Higher

GOLD

When the news of the blocking of Trumps tariffs was announced late last night, the Gold price reacted negatively and dropped $50 per ounce ($3,245) in Asian trading. As Gold trading moved into the Middle East and London, Gold started rallying back. When Gold trading reached the U.S., the Labor Department announced that unemployment claim for May was 240,000, higher than expected. The Gold price continued moving higher on this news, reaching a high of $3,331 before seeing some light selling.

At 11am PT today, Gold is up $25, trading at $3,322 per ounce on excellent volume.

SILVER

Silver followed Gold lower and higher, reaching a low of $32.64 and a high of $33.59 per ounce. Silver is showing excellent demand under the $33 per ounce level and hopefully that will become a key support level.

At 11am PT today, Silver is up $0.30 per ounce, at $33.33 on strong demand.