Gold rallied in Asian trading then dipped in US
This morning there was sizeable bargain buying in the Asian markets, with Gold rallying to a high of $1,220 per ounce. Then U.S. Markets opened and the July jobs report was released, showing an increase of 157,000 new jobs, and Gold sold off. At 11am PDT today, Gold is trading at $1,216 per ounce, up $4 on average volume.
Silver reached a high of $15.60 per ounce in early trading then sold off to $15.20 before finding support. Physical demand for Silver investment products is showing good increases worldwide, very surprising considering we are in the summer months. At 11am PDT today, Silver is trading at $15.45 per ounce, up $0.07 on normal volume.