Gold And Silver Test Key Resistance Levels

GOLD

Today, we saw Gold break out above the key $3,350 level and reach $3,400, the first time since June 14th. This test of Gold’s $3,400 resistance level could see some profit-taking and move lower, or break above and continue to move higher.

At 11 am PT today, Gold is trading at $3,394, up $41 from last Friday.

SILVER

Silver moved higher with Gold this morning, reaching a high of $39.10 before seeing some light profit-taking. I would like to see Silver stay above $39, but believe it is more likely to see some consolidation above $38.50 per ounce.

At 11 am PT today, Silver is trading at $39.02, up $0.74 from last Friday.