Gold And Silver At Very Attractive Buying Levels

GOLD

Gold continued to move lower this morning, reaching a low of $1,974 before finding bargain buyers. Two Fed Presidents threw cold water on the hopes of a Fed rate cut this morning, which caused precious metal selling. I’m looking for a major Gold buyer (Central Bank) to step into the market at these levels. At 11am PT today, Gold is trading at $1,982 per ounce, down $6 on average volume.

SILVER

Silver tested support around the $23.50 level this morning and quickly rallied back to $23.97 per ounce. Buying activity is very strong at these cheap levels for many of the popular Silver investment coins. At 11am PT today, Silver is unchanged at the $23.75 per ounce level.