Gold rallied when a major buyer appeared
Gold opened in Asian markets this morning at $1,238, hit a low of $1,237, then a major buyer appeared at that price, and Gold immediately moved over $1,250 per ounce. An individual, company, or nation decided Gold was too cheap and just started buying tons of Gold. At 11am PDT today, Gold is trading at $1,253 per ounce, up $10 for the day on heavy volume.
Silver reached a low of $15.74 in early trading but moved back above $16 when Gold rallied. $16 per ounce is an important level for Silver and it’s having a difficult time staying there today. At 11am PDT today, Silver is up $0.12, trading at $16.00 on good volume.