Gold And Silver Finding Strong Demand At Key Support Levels.

GOLD

Gold briefly broke below the key $1,900 support level, reaching $1,892 before the major buyers appeared. Strong demand during European trading drove the Gold price up $20 from the lows. This rally happened in the face of a stronger U.S. Dollar Index (above 103), which is a good sign that this $1,900 support level should hold. At 11am PT Today, Gold is trading at $1,910 per ounce, down $2 on strong volume.

SILVER

Silver fell to $22.23 when Gold reached its low. Then, like Gold, found bargain buyers, which drove the silver price back above its recent $22.50 support level. Demand for popular Silver investment and collector coins is picking in the U.S. as well as Europe and Asia. At 11am PT today, Silver is down $0.30 per ounce, trading at $22.60 on strong volume.