Gold And Silver Test Key Support Levels On Job News

GOLD

A strong rally in the U.S. Dollar, over 104, this morning drove the price of Gold lower. Gold broke below the key $2,000 level and it appears to be a final clean out. The financial markets are still concerned about Friday’s bullish job report and how it will affect future Federal Reserve decisions.

At 11am PT today, Gold is trading at $1985.44 per ounce, down $16.56.

SILVER

Silver moved lower with Gold this morning, reaching a low of $22.70 per ounce before finding bargain buying. Silver also needs to move back above the key $23 level by the weekend to retain a bullish sentiment.

At 11am PT today, Silver is trading at $22.99 per ounce, down $0.03.