Gold staying low with heavy volume

GOLD

Gold has traded below $1,200 all day, with a low of $1,192 and heavy trading volume. I’m seeing a lot of short-sellers covering their positions. At 11am PDT today, Gold is trading at $1,195 per ounce, up $2 per ounce on heavy volume.

SILVER

Silver reached a new low of $14.94 this morning, before rallying back above the $15 per ounce level. Silver needs to stay above $15.00 to hold the long term support level. At 11am PDT today, Silver is trading at $15.02 per ounce, down $0.06 on excellent volume.

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