GOLD

Today, Gold showed why it is called the ultimate safe haven investment, as the world’s equity markets are dramatically dropping the experienced investors ran for Gold. Gold hit a high of $1,224.50 on massive purchases worldwide, above the key $1,200 and $1,220 resistance levels. At 11am PDT today, Gold is trading at $1,223, up $31.50 (2.6%) on sizeable volume.

SILVER

Silver moved up with Gold today, but not as I would have expected. Silver reached a high of $14.64 per ounce, well below the important $15 per ounce resistance level. If Gold holds current levels, I would expect to see Silver approach the $15 level. At 11am PDT today, Silver is up $0.24 per ounce, trading at $14.57 on good volume.