Gold Moves Below Key $3,300 Support Level, But Rallies Back

GOLD

Gold had a very interesting trading day. Gold started in Asia at $3,320 per ounce, and as the market moved into Middle Eastern and early European trading, it moved lower. Early in London trading Gold reached the low of $3,266 per ounce. At that point, strong buyers appeared and took the price back over $3,300 per ounce, and stayed in that range as the U.S. Market opened.

At 11am PT today, Gold is trading at $3,308 per ounce, down $7 on the day.

SILVER

Silver fell with the Gold price and moved under the $33 level. Silver reached a low of $32.11 per ounce before rallying higher on strong Gold demand.

At 11am PT today, Silver is trading at $32.74 per oz, down $0.41 on the day.