Gold And Silver Testing Support Levels

GOLD

In overnight trading in Asia and Europe, Gold traded from $1,956 to $1,987 as it looks for support and finds increased demand. The U.S. Dollar is holding very near its recent highs, which is continuing to put pressure on Gold and Silver. News on the debt ceiling negotiation is due later today. At 11am PT today, Gold is trading at $1,963 per ounce, down $12 on average volume.

SILVER

As Gold reached its lows this morning, Silver briefly broke below the key $23 per ounce support level. Silver is finding a lot of demand just above the $23 per ounce level. At 11am PT today, Silver is down $0.36 per ounce, trading at $23.14 on normal volume.