Gold Reaches $3,359 Per Ounce Before Seeing Profit Taking

GOLD

Gold traded today between $3,282 and $3,359 per ounce, as it tries to build a firm base above the $3,300 per ounce level. A lot of today’s volatility was caused by trade war concerns and news about the pending tariffs and other geopolitical issues. Today’s activity was an important test of the $3,300 support level.

At 11am PT today, Gold is trading at $3,320 per ounce, down $10 on very active trading volume.

SILVER

Today, Silver tested both the $32 per ounce support level and the $33 per ounce resistance level with active volume. Right now, I am seeing excellent trading volume on many of the key markets.

At 11am PT today, Silver is down $0.35 per ounce, trading at $32.50 on excellent volume.