Gold Holding Around $4,200 & Silver Near $58

GOLD

Gold trading started last night in China in a narrow range between $4,195 and $4,206 per ounce.
As trading moved into India, the gold price rallied to a high of $4,220 per ounce.
Today’s weakness came as trading hit the U.S. and broke below the $4,200 level.

At 11 am PT today, gold is trading at $4,186 per ounce, down $16 on average volume.

SILVER

During overseas trading last night, silver opened in China and immediately sold off, reaching a low of $57.56 per ounce, before finding buyers.
As the night progressed and trading moved to India, silver started rallying and moved over $58 per ounce.
But silver followed gold’s lead as the trading moved to the U.S. and dropped below the $58 level.

At 11 am PT today, silver is down $0.32 per ounce, trading at $58.02 on strong volume.