The Gold rally continues

GOLD

The Gold rally continues, up $60 since the December 12th low. The Gold price took a run at the important $1,300 per ounce resistance level today, reaching a high of $1,297 before seeing some light profit taking. There should be some resistance when Gold reaches $1,300 per ounce again. At 11am PST today, Gold is trading at $1,294, per ounce up $7 on normal volume.

SILVER

Silver is moving higher alongside Gold in this year-end rally. Silver is working its way towards the important $17 per ounce resistance level. Most of the demand is coming from Asian and European markets. At 11am PST today, Silver is up $0.15 per ounce, trading at $16.85 on average volume.