Gold Showing Excellent Support Above $2,500

GOLD

Gold has traded between $2,505 and $2,520 today from Asia to the Middle East, Europe, and now in the U.S. market. This shows good consolidation of the recent gains and excellent base building for the next leg higher.

At 11am PT today, Gold is trading at $2,518 per ounce, up $1 on average volume.

SILVER

Silver continues to trade above and below the important $30 price level. If the Gold price remains strong, I would expect to see Silver firmly move above $30 before the end of the week.

At 11am PT today, Silver is trading at $30 per ounce, up $0.02 per ounce on normal volume.