Gold And Silver Test Support And Bounces Back Quickly

GOLD

Yesterday, all the world news and financial market activity were negative for Gold. Gold reached a low of $3,206 per ounce, but massive buying (probably Central Banks) turned the Gold price around last night, and today we are seeing Gold bounce back. Gold reached a high last night of $3,266 before seeing some light selling. I believe this is an important turnaround for Gold, and we will see Gold back on its bullish track as the month moves on.
At 11am PT today, Gold is trading at $3,248 per ounce, up $23 on excellent volume.

SILVER

The Silver price fell with Gold yesterday and bounced back with Gold today. Silver reached a low of $31.86, below the key $32 support level. In this morning’s trading, Silver briefly broke above the $33 level and showed excellent demand.
At 11am PDT today, Silver is trading at $32.90 per ounce, up $0.45 on excellent demand.