Gold Quickly Moves Above $1,790 After U.S. Dollar Sell Off

GOLD

Gold reached a low of $1,783 per ounce in oversea markets. At that point, bargain buyers stepped in and the price quickly moved back above $1,790 and kept on going as the U.S. Dollar sold off. At 11am PT today, Gold is trading at $1,800 per ounce, up $4 on good volume.

SILVER

Silver tested the important $24 per ounce support level again this morning and held. Silver actually started today’s precious metals rally as it moved back above $24 on fresh buying. At 11am PT today, Silver is up $0.07 per ounce, trading at $24.20 on good volume.