Gold Fights To Stay Over $4,000 Per Ounce

GOLD

Gold is in a bull/bear war and continues trading above and below the key $4,000 per ounce level. Today, Gold reached a low of $3,915 per ounce in China and a high of $4,018 per ounce in New York.

After breaking down below $4,000 and reaching a recent low of $3,886 in London on Tuesday, Gold has traded above and below $4,000 over six times. This is a very important test of a key support level, and if Gold can stay above $4,000 for at least three trading days, the bulls will win this war, and we are going higher.

At 11am PT today, Gold is trading at $4,012 per ounce, up $8 on excellent volume.

SILVER

After reaching a low of $45.48 early Tuesday morning, Silver has been seeing sizeable buying, taking the price near $49 per ounce. This morning, Silver is building a firm base above $47 per ounce and has traded between $47.20 and $48.94 per ounce.

At 11am PT today, Silver is trading at $48.88 per ounce, up $0.73 on excellent volume.