Gold Showing Good Demand Over Support Levels

GOLD

Gold appears to have the support needed to stay over the key $2,750 level as we approached Chairman Powell’s statements on the direction of U.S. interest rates. Gold is trading in a tight range between $2,755 and $2,768 with excellent volume.

At 11am PT today, Gold is trading at $2747, down $17 from yesterday.

SILVER

Silver has built a firm base over $30 per ounce, but needs to move toward $31 to stay bullish in the face of a stronger Gold price. The uncertainty over approved U.S. government spending is not directly affecting the Silver price.

At 11am PT today, Silver is trading at $30.70, up $0.28.