Gold And Silver Looking For A Key Support Level

GOLD

Gold traded last night and today between $2,974 and $3,024 per ounce as it searches for an important support level. Equity investors being hit with margin calls continue to look for liquidity to meet those calls and are selling precious metals.

At 11am PT today, Gold is trading at $2,990, up $19 on excellent volume.

SILVER

Silver traded last night and today above and below the key $30 per ounce support/resistance level. Demand continues to be strong and trading volume is very high.

At 11am PT today, Silver unchanged at $29.97 per ounce on excellent volume.