Gold And Silver Move Higher From Recent Lows

GOLD

Gold reached a low of $3,929 per ounce in overnight trading last night. Much of Gold’s recent decline was an increase in the value of the U.S. Dollar (over 100) for the first time in the past six months. At today’s low price, we saw substantial bargain buying in London, and the Gold price moved up to $3,988 per ounce. Private company payrolls ticked up in October, beating the forecast and raising hopes about the labor market.

At 11am PT today, Gold is up $47.07 per ounce, trading at $3,981.83.

SILVER

Silver, like Gold, reached a low of $46.84 in early trading in China. Silver started moving higher when London opened and reached a high of $48.11 before seeing some selling.

At 11am PT today, Silver is trading at $48.15, up $1.05.