Gold Is Back On Track While Silver Is A Superstar

GOLD

After seeing profit taking yesterday, Gold is back on track today. In overnight trading Gold reached a low of $1,724 per ounce. Then, the bargain buyers appeared and quickly took the price back over $1,740. Gold reached a high yesterday morning of $1,772, and after a short period of base building we should break above that level soon. At 11am PT today, Gold is trading $1,748, up $11 on excellent volume.

SILVER

Silver continues to be the precious metal superstar, reaching a high of $17.75 this morning before seeing light profit-taking. A short period of consolidating recent gains above $17 would be great, but momentum is indicating a test of the $18 resistance level. At 11am PT today, Silver is up $0.32 per ounce, trading at $17.51 on good volume.