Gold continues to see light profit-taking

GOLD

We continue to see light profit-taking from investors after Gold reached a 1 year high last Friday. Gold has shown great support at $1,320 per ounce, as it consolidates its gains and builds a firm base for the next leg higher. At 11am PDT today, Gold is trading at $1,325 per ounce, down $4 on average volume.

SILVER

Silver hit a low this morning of $17.65 per ounce before bargain buyers appeared. Right now, Silver is trading between $17.65 and $18 per ounce as it also builds a firm base, preparing for a breakout above the $18 per ounce resistance level. At 11am PDT today, Silver is down $0.08 per ounce, trading at $17.77 on normal volume.