Gold And Silver Swing In Overnight Trading

GOLD

In overnight trading Gold continued to perform well. Then, as the U.S. market opened, it is suspected that short term traders stepped in to take their profits. This action gave Gold about a $25 swing today, while still holding well over the $1,700 level with a low around $1,718. Gold is recovering well with a $7-8 bounce back so far. At 11am PST Gold is at $1,735 down by $7 on heavy trading volume.

SILVER

The story was similar with Silver last night, but with just a little more range in trading. Silver had hit a high of $18.39, and a low of $17.65 this morning. It is recovering well and hovering around $18 level at the moment, a key support level that it reached back to very quickly. At 11am PST Silver is up $0.17 per ounce, trading at $18.10 on very strong trading volume.