Gold And Silver Jump On Release Of Weak Economic Data

GOLD

Gold and Silver prices are substantially higher this morning with both precious metals hitting multi-week highs following the release of weaker-than-expected economic Data from the U.S. Both the jobs turnover report and consumer confidence index report came in with disappointing numbers today, prompting fresh buying of the precious metals.

Gold rose steeply this morning, now testing the key $1940 resistance level. Gold Seems to be gaining momentum for its next move higher.

At 11am PT today, Gold is trading at $1937.33 per ounce, up $16.65.

SILVER

Silver prices have also spiked this morning, leading the way for precious metals as it continues its surge upwards. Silver has experienced gains now well over 9% in just 6 trading days.

At 11am PT today, Silver is trading at $24.73 per ounce, up $0.49.