Gold briefly broke above $1,300

GOLD

Gold briefly broke back above the key $1,300 per ounce level this morning on fresh buying. For most of today’s trading, Gold couldn’t hold the $1,300 level and traded between $1,295 and $1,301. At 11am PDT today, Gold is trading at $1,296 per ounce, down $2 on normal volume.

SILVER

Silver showed excellent strength today, rallying above the $16.50 level and staying there for most of the day. Silver did reach a high of $16.78 before seeing short-sellers appear. At 11am PDT today, Silver is up $0.12 per ounce, trading at $16.62 on average volume.