Change in U.S. Weekly Jobless Claims Cause Gold and Silver to Move

GOLD

In late trading yesterday, Gold tested its recent high of $1,863 and then as the Gold market moved into European, trading sold off. During U.S. Gold trading, Gold tested its $1,825 support level, as the market was surprised to see a drop in the U.S. weekly jobless claims. At 11am PT today, Gold is trading at $1,837 per ounce, down $14 on active volume.

SILVER

The weakness in the Silver price led precious metals lower in early trading. Silver reached a low of $23.11 per ounce, before finding bargain buying during U.S. trading. At 11am PT today, Silver is down $0.20 per ounce, trading at $23.50 on heavy volume.