Gold Makes First Attempt At $1800

GOLD

It appears that the road for Gold reaching $1,800 per ounce is quicker than I originally thought. Gold hit $1,799 per ounce this morning in early European trading, before seeing some light short-term profit taking. This would qualify as the first attempt to break the key $1,800 per ounce resistance level, with more coming. At 11am PT today, Gold is trading at $1,793 per ounce, up $15 on excellent volume.

SILVER

Silver reached a high of $26.64 per ounce, when Gold hit $1,799. This was an 3% increase in the Silver price, with Gold up just over 1%. That is an indicator of how explosive the Silver price can be during a strong Gold rally. At 11am PT Today, Silver is up $0.65 per ounce, at $26.50 on excellent volume.