GOLD

Gold tested the $1,250 per ounce support level this morning, reaching a low of $1,251 before sizeable buying appeared. The price quickly ran up to $1,260 in active trading before some light selling came in. At 11am PDT today, Gold is trading at $1,258 per ounce, down $1 on normal volume.

SILVER

Finally, Silver showed more demand than Gold, reaching a high of $16.52 per ounce when Gold rallied. Day traders are buying Silver on weakness and selling into rallies, until Silver breaks back and holds above $16.50 per ounce. At 11am PDT today, Silver is up $0.13 per ounce, trading at $16.41 on good volume.