Gold Rises Going Into The Weekend

GOLD

Going into the weekend, Gold has come back over the $1900 support level even as the Dow is a bears market today. Both are good signs for Gold as demand is good. It appears from what we can see that a lot of the weak hands were cleared out from earlier in the week. At 11am Gold is $1914 up by $20 on good volume.

SILVER

There appears to be a lot of margin traders in Silver cleaning out a lot of their positions going into the weekend. Silver is testing the $23 level where buying is coming in well. With global demand on Silver extremely high at this point where many mints are quoting huge backlogs in demand I want to see when this will turn around as premiums on many Silver coins are getting higher and higher with longer delays in shipping. At 11am Silver is $23.15 up by $0.02 on fair volume.