Current Demand Cannot Help Gold's Market Decline

GOLD

Gold continues to have trouble holding a rally above $1,830 per ounce. Gold actually reached a low of $1,816 last night on light volume. Based on what I’m seeing, I believe $1,800 is going to be a major support level. At 11am PT today, Gold is trading at $1,823 per ounce, down $12 on average volume.

SILVER

Silver also has been showing price weakness in recent trading sessions, reaching a low of $21.28 this morning. Demand has been strong at the current price for many of the popular Silver investment coins. At 11am PT today, Silver is down $0.30 per ounce, trading at $21.35 on normal volume.