Gold And Silver Tested Support Lows And Held

GOLD

Over the long holiday weekend Gold moved higher, reaching a one-week high on strong Asian demand. A weaker U.S. Dollar and Middle East tensions help the Gold price move higher. The buyers are back this morning with the Gold price reaching a high of $2,031 before seeing some light profit taking. At 11am PT today, Gold is trading at $2,027 per ounce, up $14 on average volume.

SILVER

Over the long holiday weekend Silver moved lower on profit taking, breaking below the key $23 per ounce level. Today, Silver is trading above and below the key $23 level as it tries to establish a firm base for the next leg higher. At 11am PT today, Silver is down $0.40 per ounce, trading at $23.06 on normal volume.