Gold And Silver Test Lows And Are Back On A Bullish Track

GOLD

Gold reached a low of $1,925 this morning in Asian trading on the possibility of more Fed Rate increases later this year. Then, as the markets moved into European trading, the U.S. Dollar sold-off, dropping to 102 and Gold quickly rallied back above the key $1,950 resistance/support level. At 11am PT today, Gold is trading at $1,958 per ounce, up $16 on excellent volume.

SILVER

When Gold reached its lows this morning in Asia, Silver traded at $23.16 per ounce. Silver quickly rallied back as the price of Gold moved higher in European and U.S. markets. At 11am PT today, Silver is down $0.03 per ounce, trading at $23.87 on strong volume.