Chinese Data Reports Test Gold And Silver Support Levels

GOLD

Gold fell below the $1950 support level this morning following a release of weak economic data out of China. The data hints at a global trade slowdown that could affect the demand of precious metals. At 11am PT today, Gold is trading at $1946 per ounce, down $18.

SILVER

Silver dipped slightly following the report out of China and is now trading just below the $23.60 level it held yesterday. At 11am PT today, Silver is trading at $23.59 per ounce, down just $0.01 from yesterday.