Gold And Silver Testing Key Support Levels

GOLD

Today’s U.S. consumer price index report for May showed a rise of 4.0%, year-on-year, the same as in the April report and right in line with market expectations. Gold sold off on the Consumer news, reaching a low of $1,941 before finding strong buying. At 11am PT today, Gold is trading at $1,944 per ounce, down $11 on normal volume.

SILVER

As Gold sold off, Silver broke down, dropping $0.40 per ounce, below the key $24 support level. At 11am PT today, Silver is trading at $24.68, down $0.32 on average volume.