Gold Continues Its All-Time High Breakout

GOLD

Gold saw large demand as it rounded into the Asian and European markets last night driving the spot price up to $2,142. As trading was moving from London to the U.S., selling and short-term profit taking came into the market, driving the price down to $2,112 per ounce. In late U.S. trading the buyers came back and the price moved higher slowly. At 11am PT today, Gold is trading at $2,031 per ounce, up $17 on good volume.

SILVER

Silver moved above the key $24 with Gold’s early rally, then it couldn’t hold that level in later trading. Short-term profiting taking was evident in early U.S. trading as the market moved to the day’s lows of $23.65. At 11am PT today, Silver is down $0.10 per ounce, trading at $23.70 on normal volume.