Gold And Silver Finally Saw Some Light Profit-Taking

GOLD

In overseas and U.S. trading last night and this morning, Gold traded between $2,337 and $2,365 per ounce. When Gold broke above $2,350 there was a surge of buying, but when Gold reached $2,365 sellers decided to take short-term profits.

At 11am PT today, Gold is trading at $2,345 per ounce, up $7 on average volume.

SILVER

Silver has traded above and below the $28 per ounce resistance level today. Silver reached a high of $28.36 before seeing heavy profit-taking and short-selling. The Silver price did track the Gold rally and sell-off.

At 11am PT today, Silver is up $0.05 per ounce, trading at $27.85 on normal volume.