Gold and Silver moving Hand-In-Hand

GOLD

Gold reached a low of $1,568 per ounce in early Asian trading before finding bargain buying. Gold re-tested recent lows on this morning announcement that the ISM manufacturing data showed a strong increase. Gold has rallied back above the $1,575 level. At 11am PT today, Gold is trading at $1,576 per ounce, down $12 on average volume. At 11am PT today, Gold is trading at $1,584 per ounce, up $14 on active volume.

SILVER

This morning the Silver price is moving hand-in-hand with the Gold price decline. Silver reached a low of $17.54 before finding buyers. Silver continues to trade in the $17.50 to $18.00 per ounce area, building a strong base for the next leg higher. At 11am PT today, Silver is down $0.38 per ounce, trading at $17.67 on normal volume.