Gold And Silver Break Below Key Support Levels

GOLD

A strong U.S. Dollar combined with optimism about trade and tariff issues are putting pressure on Gold demand and pricing. Gold reached a low of $3,173 in overseas trading this morning before finding major buyers. Gold needs to move back above $3,200 within the next few trading days to remain short-term bullish.

At 11am PT today, Gold is trading at $3,182 per ounce, down $64 on light volume.

SILVER

Silver fell with Gold this morning, reaching a low of $32.08 before seeing bargain buying in London and the U.S. markets. Silver holding above the important $32 support level on this drop in Gold is an excellent sign of strength in this market.

At 11am PT today, Silver is down $0.55 per ounce, trading at $23.35 on average volume.