Gold moves above $1,350 per ounce

GOLD

Finally, after four attempts in the last month, Gold has moved above $1,350 per ounce. A combination of recently reported massive global debt (see WMR), and a report from the CBO on potential U.S. insolvency on the horizon has increased demand for Gold.  At 11am PDT today, Gold is trading at $1,351 per ounce, up $5 on excellent demand.

SILVER

Silver has broken above the key $17 per ounce resistance level on excellent demand. Silver reached a high of $17.31 before seeing short-term profit taking. At 11am PDT today, Silver is up $0.44 per ounce, trading at $17.20 on excellent demand.