Gold Demand Picks Up In Futures, Options & Physical Markets

GOLD

Gold found strong support above the $1,780 level in Europe this morning. Gold demand is definitely picking up in futures, options and physical markets, and a move back above $1,800 is coming soon. At 11am PT today, Gold is trading at $1,784, up $4 on average volume.

SILVER

Silver saw sizeable buying in Europe this morning, reaching a high of $26.39 before seeing some light profit-taking. As I have said, support above the $26 level is very important, it appears to be staying there today. At 11am PT today, Silver is up $0.12 per ounce, trading at $26.06 on good volume.