Gold Back On Bullish Track, Moving Above $2,650

GOLD

Gold is definitely back on a bullish track, as it has moved $100 over the recent low of $2,537 per ounce. Gold reached a high today of $2,655 in late London trading, then saw some light selling as the market moved into the U.S.

At 11am PT today, Gold is up $17 per ounce, trading at $2,648 per ounce on excellent volume.

SILVER

Silver is having a difficult time staying above $31 per ounce. Silver has traded actively between $30.77 and $31.40 has it tries to find firm support. Moving back above the $31 level is important to the short-term direction of the Silver price.

At 11am PT today, Silver is down $0.30 per ounce, trading at $30.95 on active volume.