Gold Makes A Sizeable Correction And Is Finding Support

GOLD

Yesterday was an extraordinary day for Gold trading. Gold reached a high of $3,499 per ounce in early Asian trading, then came high volatility, profit-taking, and short selling. Gold reached a low of $3,308 in late, after-close trading in the U.S. A $191 trading range in one day has to be a record for Gold.

Today, Gold reached a low of $3,260 before finding short-covering and fresh central bank buying.

SILVER

Some of the money from Gold sales has found its way to Silver. Silver is showing excellent demand for many of the popular investment coins and bars.

At 11am PT today, Silver is up $0.56 per ounce, trading at $33.50 on excellent volume.