Gold Briefly Drops Below $1,800 Then Bounces Back

GOLD

Gold tested support this morning, reaching a low of $1,788 per ounce before bouncing back on heavy buying. For the most part of today’s trading, Gold has stayed above the key $1,800 level. At 11am PT today, Gold is trading at $1,808 per ounce, down $1 on good volume.

SILVER

As Gold sold off this morning, Silver broke below the $23 support level and reached a low of $22.56 before finding bargain buying. At 11am PT today, Silver is down $0.17 per ounce, trading at $22.94 on excellent volume.