Gold Appears To Have Bottomed Out Last Night At $2,537

GOLD

Gold reached a low of $2,537 in overnight trading, then turned on a dime and started to move higher. Gold quickly rallied $35 before slowing down to reach today’s high of $2,582 per ounce.

At 11am PT today, Gold is trading at $2,571 per ounce, down $12 on heavy volume.

SILVER

The Silver price reached a low of $29.65 last night during early London trading. At that price level, demand increased substantially and Silver quickly moved back above $30 and kept on going. The Silver price reached a high of $30.63 before settling down.

At 11am PT today, Silver is down $0.08 per ounce, trading at $30.52 on excellent volume.