Gold Showing Strong Gains On PCE Report

GOLD

Gold moved higher this morning on the U.S. Department of Commerce release of the core Personal Consumption Expenditures price index which increased 0.2% for June. Compared to May’s increase of 0.2%, this was in line with expectations.

At 11am PT today, Gold is trading at $2,383 per ounce, up $23 on excellent volume.

SILVER

Silver is showing a lot of volatility this morning, reaching a low of $27.56 before finding bargain buyers. Silver is currently in a bearish trend and needs to get back above $28 to find support.

At 11am PT today, Silver is trading at $27.85 per ounce, down $0.10 on light volume.