Gold is trying to stay above support/resistance level

GOLD

Gold has been trying all day to stay above the key $1,300 per ounce support/resistance level. Gold definitely needs to close over $1,300 by the weekend to assure a bullish sentiment with professional traders. At 11am PDT today, Gold is trading at $1,300 per ounce, down $7 on active volume.

SILVER

Silver reached a high of $17.28 per ounce this morning before seeing heavy selling, taking the price down to a low of $16.79. If Gold can stay above $1,300 per ounce, Silver should be able to move back above the key $17 per ounce level. At 11am PDT today, Silver is down $0.18 per ounce, trading at $16.92 on average volume.