Gold And Silver Find Fresh Buyers

GOLD

Gold reached a low of $1,916 per ounce this morning as it found fresh buying. Gold has been staying in the $1,916 to $1,955 price range over the past three trading days. It’s nice to see Gold consolidating after recent gains as it builds a firm base for the next break over $2,000.

Today, we had mixed news, U.S. jobless claims climbed above 1 million last week and the U.S. Dollar Index rallied. At 11am PT today, Gold is trading at $1,940 per ounce, down $4 on good volume.

SILVER

Silver reached a low of $26.16 per ounce this morning, then found fresh bargain buyers. Remember, Silver was $14.70 per ounce three months ago and it needs some time to consolidate the recent gains. At 11am PT today, Silver is down $0.44 per ounce, trading at $26.72 on average volume.