Gold Rides High on Unemployment Wave In U.S.

GOLD

October U.S. unemployment numbers were released today, early because of the Thanksgiving Day holiday tomorrow. The October unemployment claims increased by 17,000, adjusted to 240,000, higher than economist had forecast. Gold rallied on this news, reaching a high of $1,749 before seeing some light selling. At 11am PT today, Gold is up $6, trading at $1,745 on light volume.

SILVER

Silver continues to show better price support and demand than Gold. Silver reached a high of $21.55 per ounce, before seeing some short-term profit taking. At 11am PT today, Silver is trading at $21.38 per ounce, up $0.32 on low volume.