Gold And Silver Moving Higher Above Key Levels

GOLD

Overnight trading in Asia and Europe is showing excellent support for Gold in the $1,970 to $1,980 price range. Building firm base between $1,950 and $2,000 would be very bullish for short-term, as Gold gets ready for the next move back above $2,000. The U.S. Dollar Index and U.S. interest rates remain weak as traders look forward to the next Federal Reserve meeting next week. At 11am PT today, Gold is trading at $1,977 per ounce, up $2 on good volume.

SILVER

Silver has been the superstar of the precious metal index as it builds a firm base above the key $25 per ounce level. Silver did hit a high of $25.31 in early trading and has been trading above the $25 level in the U.S. market. At 11am PT today, Silver is up $0.11 per ounce, trading at $25.16 on average volume.