Gold moved past $1,270

GOLD

Gold started the day in Asian Markets moving towards the $1,270 support level, reaching a low of $1,273 per ounce. In late Asian and European trading Gold started a rally, reaching a high of $1,283.60 and stayed at that level in the U.S. market. At 11am PST today, Gold is trading at $1,283, up $9 per ounce on good volume.

SILVER

Last Friday, Silver closed at $16.38, up $0.38 per ounce for the week. Silver is now up $0.38 per ounce (2.4%) since the beginning of 2017. Silver stayed above the $16 per ounce resistance level all five trading days last week. This is very positive considering the recent December 12th one-year low of $15.58 per ounce. At 11am PST today, Silver is up $.20 per ounce, trading at $16.50 on excellent volume.