Gold broke below $1,320

GOLD

Gold broke down below the $1,320 level in early Asian trading, reaching a low of $1,313 before seeing strong buying. Gold quickly rallied $4 on heavy volume and traded most of the day under $1,320. At 11am PDT today, gold is down $5 per ounce, trading at $1,317 on heavy volume.

SILVER

Silver hit a low today of $16.39 per ounce before heavy buying appeared. At 11am PDT today, Silver is trading at $16.53, down $0.07 per ounce on high volume.