Gold And Silver Resist Falling Below Key Support Levels

GOLD

This morning the U.S. Dollar Index rallied and Gold tested its $1,950 support level. Gold continues to build a firm base above the $1,950 level. At 11am PT today, Gold is trading at $1,955 per ounce, down $5 on average trading volume.

SILVER

As Gold sold off, Silver broke down below the key $24 support level. It’s important that Silver stay above the $24 for the short-term direction of the Silver price. At 11am PT today, Silver is down $0.30 per ounce, trading at its $24 per ounce support level.