Gold And Silver Prices Coming Back On Excellent Demand

GOLD

May was not a good month for Gold investors. We started the month at $1,995, reached a high of $2,080 and a low of $1,934, and closed the month at $1,968, down $27 for the month. During May, the main issue was that precious metal prices were reacting to news about the debt ceiling negotiations, and that appears to be over. Now, after testing the key $1,950 per ounce support level, Gold should be heading towards $2,000 in June. At 11am PT today, Gold is trading at $ $1,968, up $10 on good volume.

SILVER

After testing support at the $23 per ounce level, Silver has found sizeable buying in Asia and has rallied above the $23.50 level. The Silver-to-Gold ratio is currently at 83.4-to-1, an excellent volume for a Silver investment. At 11am PT today, Silver is trading at $23.60 per ounce, up $0.43 on solid volume.