Gold And Silver Moving Back Over Key Resistance Levels

GOLD

The Gold market closed up $61 to $3,285 in the U.S. yesterday. The overseas markets continued the move higher, reaching a high of $3,320 in London. In London trading, there was excellent 2-way trading and Gold traded between $3,300 and $3,320 per ounce. Gold continued to trade in that area above $3,300 during U.S. trading. This Gold rally is being fueled by a weaker U.S. Dollar (under 100) and safe haven buying driven by the Moody’s rate cut on U.S. Debt.

At 11am PT Today, Gold is up $29, trading at $3,314 today.

SILVER

Silver moved higher with Gold in early overseas trading last night. Silver traded today between $32.90 and $33.60 as it builds a firm base above the key $33 per ounce level.

At 11am PT today, Silver is trading at $33.36, up $0.31 from yesterday.