This morning the Gold price tested the $1,275 per ounce support level and held. For most of today’s trading, Gold has stayed above the $1,280 level. Gold continues to consolidate while building an excellent base for the next attempt to break above the important $1,300 level. At 11am PDT today, Gold is trading at $1,282 per ounce, down $9 on average volume.
Silver hit a low of $18.09 this morning, again testing the important $18 support level. It appears that both the Asian and Middle-Eastern markets have aggressive buyers when Silver nears the $18 level. At 11am PDT today, Silver is down $.0.17 per ounce, trading at $18.17 on good volume.