Gold showed resistance over $1,360/ounce

GOLD

Gold showed some resistance and short-selling this morning when the price moved over $1,360 per ounce. $1,350 is an important support level, and with today’s stronger U.S. Dollar and higher interest rates, that level is being tested. At 11am PST today, Gold is trading at $1,350 per ounce, down $3 on normal weekend volume.

SILVER

Silver took a run at the $17 resistance level this morning, reaching a high of $16.98 per ounce. At that point, short-sellers hit the market and drove the price down to $16.65, before major support appeared. At 11am PST Today, Silver is down $0.14 per ounce, trading at $16.70 on excellent volume.