Gold And Silver Trading At Attractive Prices

GOLD

The news today was the downgrading of U.S. Debt by Fitch, this was the first downgrade by a major credit rating agency in more than a decade. Fitch cited “expected fiscal deterioration”. (see article below)

U.S. AAA Debt Rating Gets A downgrade By Fitch White House Says Move ‘Defies Reality’

Gold first rallied on this downgrading news, reaching $1,955, then the U.S. Dollar Index and interest rates started moving higher and Gold quickly sold-off. Staying below the key $1,950 level isn’t healthy for Gold’s short-term price. At 11am PT today, Gold is trading at $1,937 per ounce, down $6 on excellent volume.

SILVER

Silver has dropped over $1 since Monday, and with attractive premiums on many of the popular silver investment coins and a BUY. The summer months are normally slow for sales of precious metal items; however, we are seeing sizeable demand for many Gold and Silver bullion products. At 11am PT today, Silver is down $0.42 per ounce, trading at $23.80 on excellent volume.