Gold is seeing good volume from Asian buyers

GOLD

We are seeing good volume from Asian buyers today, supporting the important $1,300 level for Gold. However, after the President’s speech today with senate majority leader Mitch McConnell talking about a wide array of issues, including tax cuts, the dollar index is starting to increase and Gold is now testing the $1,300 level. This should allow a new opportunity to get into Gold before the Indian Wedding Season starts. At 11am PDT today, Gold is trading at $1,301, down $3 per ounce on very heavy trading volume.

SILVER

While Gold is currently above the $1,300 level, Silver is correcting slightly, but still holding well above the $17 level. At 11am PDT today, Silver is trading at $17.40 per ounce, down $0.01 an ounce on strong trading.