Gold And Silver Back On The Bullish Track

GOLD

Finally, Gold rallies on negative economic news. It was reported today that jobless claims totaled a seasonally adjusted 231,000 for the week ending May 4th, up 22,000 claims from the week before. Gold rallied $20 per ounce on the news.

At 11am PT today, Gold is trading at $2,333, up $21 for the day on good volume.

SILVER

Silver followed Gold higher, breaking above the $28 per ounce resistance level. Today, Silver reached a high of $28.25 before seeing light profit-taking.

At 11am PT today, Silver is up $0.80 per ounce, trading at $28.12 on strong volume.