Gold and Silver Rally After Low Market Trading in Asia

GOLD

The Gold price reached a low of $1,638 during Asian trading this morning, and started to rally up from there. With the U.S. Dollar and interest rates moving lower in late trading, Gold started to rally, reaching a high $1,664 per ounce. Gold badly needs to build a firm base above the $1,650 level. At 11am PT today, Gold is trading at $1,655 per ounce, up $5 on average volume.

SILVER

The Silver price, like Gold reached a low in early Asian trading, then turned higher. Silver’s low was $18.77 (well below the key $19 support level) then rallied reaching a high of $19.53 in active trading. At 11am PT today, Silver is up $0.20 per ounce, trading at $19.40 on good volume.