Gold Moves Higher On Strong Demand

GOLD

Gold reached a high this morning of $1,939 in early European trading on heavy physical demand. A weaker U.S. Dollar combined with strong demand helped fuel the rally. As the market rolled into the United States, we saw light selling. At 11am PT today, Gold is trading at $1,932 per ounce, up $6 on normal volume.

SILVER

Heavy demand for Silver in Asia drove the price higher, reaching a high of $23.47 before seeing short-term profit taking in the U.S.. Silver then tested the key $23 per ounce support level this morning and held. At 11am PT today, Silver is down $0.04 per ounce, trading at $23.11 on average volume.