Both Gold & Silver Testing Key Support Levels

GOLD

Initial claims for state unemployment benefits came in at seasonally adjusted 213,000 for the week ending March 7, the Labor Department announced today. Gold sold off on this news and tested the $5,100 per ounce support level.

At 11am PT today, Gold is trading at $5,108 per ounce, down $70 on normal volume.

SILVER

Today, Silver stayed within its $83 and $87 per ounce trading range. This is good for both the long and short-term direction of the Silver price.

At 11am PT today, Silver is trading at $84.85 per ounce, down $0.95 on average volume.