Gold Demand And Trading Volume Continues To Grow

GOLD

The U.S. Dollar Index remains strong in the 97 area, but Gold demand and trading volume continues to grow. The market cleaned out the weak Gold investors yesterday, reaching a low of $1,197 and has been moving higher from late yesterday and today. It would be healthy for Gold to confirm it bottomed out on Wednesday by staying above $1,210 through the end of the week and Monday. At 11am PT today, Gold is trading at $1,214 per ounce, unchanged on excellent volume.

SILVER

Silver has actually been showing better price support than Gold with stronger demand. Silver reached a high of $14.35 per ounce before seeing short-term profit taking. At 11am PDT today, Silver is up $0.13 per ounce, trading at $14.26 on strong volume.