Gold moved down and trading volume picked up

GOLD

In Asian, European and U.S. commodity markets Gold moved down slowly, reaching a low of $1,236 per ounce. At the low the trading volume picked up and the price moved back above $1,240 per ounce. Gold needs to move firmly back above $1,250 to get some bullish sentiment. At 11am PDT today, Gold is trading at $1,241 per ounce, down $4 on average volume.

SILVER

This morning Silver found support at today’s low of $15.60 per ounce. Silver continues to show a bearish trend, and a break below $15.50 is highly possible. At 11am PDT today, Silver trading at $15.66 per ounce, down $0.09 on normal volume.

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