Gold moved above $1300

GOLD

After trading above and below the important $1,300 level for the past three weeks, Gold appears to have (hopefully) firmly moved above that level. Gold hit a high of $1,309 per ounce before seeing some light profit taking.

At 11am PDT today, Gold is up $8 per ounce, trading at $1,303 on excellent volume.

SILVER

Finally, Silver has firmly moved above the key $17 per ounce resistance level. This morning Silver hit a high of $17.36, which caused many short-sellers to run for cover. For the most part of today’s trading the Silver price range has been $17.15 to $17.25 per ounce. Silver badly needs to stay above $17 to regain a bullish short-term trader support.

At 11am PDT today, Silver is trading at $17.23, up $0.38 per ounce on excellent volume.