Gold Roars Back After Testing Support

GOLD

Gold tested the $1,486 support level this morning and came roaring back above $1,500. Gold reacted to Silvers sharp decline and spent most of the day trading between $1,490 and $1,500 per ounce. At 11am PT today, Gold is trading at $1,492 per ounce, down $9 on average volume.

SILVER

Today, the August U.S. retail sales numbers came in up 0.4% higher than the expected rise of 0.2%, that started Silver dropping. Silver then broke down below the key $18 support level, reaching a low of $17.42 per ounce. At 11am PT today, Silver is down $0.56 per ounce, trading at $17.54 on excellent volume.