Gold And Silver Test Key Support Levels And Rally Back Quickly

GOLD

Gold trading last night in overseas markets was extraordinary. Gold reached a 30-Day low of $3,120 per ounce in early Chinese trading on heavy selling. Then, as the day moved on and trading moved into China, The Middle East, London, and the U.S. I saw massive demand with tons of Gold trading and the Gold price rallied over $100 per ounce. This was a very bullish sign, making a short-term low and closing near the day’s high indicates that the Gold price is going higher very soon.

At 11am PT today, Gold is trading at $3,222 per ounce, up $40 on excellent volume.

SILVER

Silver fell with Gold earlier, reaching a low of $31.61 and rallied $1 per ounce as the Gold market moved higher. For the most part, we are seeing Silver follow Gold’s price direction, but from time-to-time Silver is finding strong buying.

At 11am PT Today, Silver is up $0.20 per ounce, trading at $32.55 on strong volume.