GOLD

Gold sold-off this morning, breaking below the recent $1,270 per ounce support level and reaching a low of $1,260.70 in early trading before major buying appeared. At 11am PST today, Gold is trading at $1,264 per ounce, down $11 on heavy volume.

SILVER

Silver broke down this morning, reaching the long-term support level of $16 per ounce. Silver has traded in the $16.00 to $16.10 range for most of U.S. trading. At 11am PST today, Silver is down $0.26 per ounce, trading at $16.08 on heavy volume.