Gold sees profit taking and rallies back above $2900

GOLD

After a long holiday weekend of trading, Gold moved back into the U.S., trading at $2,900 and reaching a high of $2,934 this morning before seeing some light selling. I am seeing excellent price support for the $2,900 level worldwide, which means $3,000 is coming very soon.
At 11am PT today, Gold is up $50 from Friday’s close, trading at $2,935 per ounce on excellent volume.

SILVER

Silver reached a high this morning of $32.95 in late London trading and has seen light profit taking in the U.S. market, but is holding well above the $32.50 level.
At 11am PT today, Silver is up $0.48 per ounce, trading at $32.85 on strong volume.