Gold Sets Another All-Time Record High

GOLD

Gold reached an all-time high of $2,484 per ounce in early Wednesday, extending gains to reach a new consecutive record high in as many days on speculation that the Fed will begin its long-awaited interest rate cuts in September. Gold sold-off in U.S. trading, but is holding above the key $2,450 support level.

At 11am PT today, Gold is trading at $2,452 per ounce, down $12 on heavy volume.

SILVER

Silver rallied with Gold, reaching a high of $31.50 before seeing heavy selling. Silver tested the key $30 per ounce support level this morning before finding bargain buying.

At 11am PT today, Silver is down $1.15 per ounce, trading at $30.20 on sizeable volume.