Interesting overnight trading in Gold market
Interesting overnight trading in the Gold market. In Asian trading, Gold reached $1,296 per ounce on the possibility of North Korea cancelling the Trump summit. When it opened in European trading, chart technicians seeing Gold break the important $1,300 support level, sold into the market, driving the price down to $1,286. As the Gold market rolled into the U.S., Gold found support taking it back above $1,290.
Again, we really need to see Gold move back above $1,300 very soon to keep the price on a bullish track. At 11am PDT today, Gold is trading at $1,293 per ounce, up $2 on excellent volume.
Silver continues to test support, reaching a low this morning of $16.14 per ounce. There were major buyers at that level, quickly taking the price back above $16.40. At 11am PDT today, Silver is up $0.10 per ounce, trading at $16.40 on excellent volume.