Gold remains on defensive

GOLD

The Gold price remains on the defensive, hitting a low of $1,254.50 per ounce in early trading. Gold has a major support level at $1,250, and if it hits that level, we should see sizeable bargain buying begin. At 11am PDT today, Gold is trading at $1,258 per ounce, down $9 on good volume.

SILVER

Silver followed Gold lower, reaching a low of $16.11 per ounce before finding support. Bargain buyers appeared at that level and Silver quickly rallied to $16.28. At 11am PDT today, Silver is down $0.06 per ounce, trading at $16.29 on good volume.