Gold Building Base Above & Below $1,460

GOLD

Some weak Chinese economic indicators add support for the Gold price this morning. Gold is base building with the price above and below the $1,460 per ounce level. Gold regained some of the ground it lost after dropping Friday on a stronger-than-expected U.S. jobs report. The positive job number reduces the urgency for a trade agreement with China and helps justify a Federal Reserve decision on Wednesday to keep interest rates unchanged. At 11am PT today, Gold is trading at $1,460 per ounce, down $1 on average volume.

SILVER

Silver is following guidance from the Gold price, as it finds support at the $16.60 per ounce level. I’m seeing lots of bargain buying of popular physical investment items coming into the Silver market. At 11am PT today, Silver is up $0.02 per ounce, trading at $16.60 on normal volume.