Gold Is Building A Firm Base Above $1,900

GOLD

Gold traded today between $1,914 and $1,936 as it builds a firm base above the key $1,900 per ounce support level. After the recent rally from $1,800 per ounce, this is very healthy for Gold’s short and long-term direction. Premiums on many of the popular Gold investment coins are holding recent levels. At 11am PT today, Gold is trading at $1,924 per ounce, down $22 on normal volume.

SILVER

Silver tested the $25 per ounce support level this morning, reaching a low of $24.90 and quickly rallying. It would be good for Silver to stay in the $25 to $25.50 area for a short term, consolidating recent gains. At 11am PT today, Silver is down $0.28, trading at $25.26 per ounce on average volume.