Gold Moving Back Above Key Support Level

GOLD

Gold moving higher this morning, back above $1,970 per ounce. It appears that Gold is headed for its best month since March, as speculation grew that the Federal Reserve is nearing the end of its interest rate-increase cycle and with a U.S. Dollar weakened. At 11am PT today, Gold is trading at $1,971 per ounce, up $11 on strong volume.

SILVER

Silver followed gold higher this morning, as it approaches the key $25 per ounce resistance level. Physical and futures demand is picking up in Asian and European markets. At 11am PT today, Silver is up $0.48 per ounce, trading at $24.82 on excellent volume.