Gold coming back up from year low

GOLD

Gold dipped in the early London trading hours but is coming back up in price from its year low as it enters US Markets on very strong volume. I like seeing the strong demand because it shows a lot of interested buyers at these levels. In addition, the fact that it’s up from the day’s lows in US trading hours is impressive since the US Dollar is slightly higher today. At 11am PDT today, Gold is trading at $1,228, down $1 on huge volume.

SILVER

Today Silver is following Gold’s lead. Given how quiet the markets are right now, I’d like to see Silver build a base at these levels for a little bit before it takes a run at $16 again. At 11am PDT today, Silver is trading at $15.61, down $.05 on above average volume.