Gold Moves Above $1,800 Resistance Level

Gold Moves Above $1,800 Resistance Level

GOLD

Gold moved above the key $1,800 resistance level this morning, reaching a high of $1,809 before seeing some light selling. A weaker U.S. Dollar based on an August rise of the consumer-price-index of only 0.3% helped this Gold rally. At 11am PT today, Gold is up $14, trading at $1809 per ounce on good volume.

SILVER

Silver found good demand when the Gold price broke above $1,800, but couldn’t stay above the $24 resistance level. Demand remains strong as premiums drop back on many of the popular Silver investment products. At 11am PT today, Silver is up $0.19 per ounce, trading at $24.01 on normal volume.

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