Gold and Silver Seeing Stability After Financial Market Sell-Off

GOLD

Yesterday’s financial market sell-off, which drove down prices on many major markets appears to be behind us. Gold tested the $1,700 yesterday and again this morning but continues to hold. We are starting to see a little stability and bottoming out in equity markets and other commodities. At 11am PT today, Gold is trading at $1,700 per ounce, down $6 on good volume.

SILVER

Silver is holding above the $19.50 level and is the least volatile in the precious metal family. Demand continues to be strong and premium remain near the highs. At 11am PT today, Silver is trading up $0.09 per ounce, at $19.60 on excellent volume.