Gold & Silver Consolidating Above Key Support Levels

GOLD

Gold reached a low of $2,016 in early trading this morning. Gold’s recent weakness is based on continued concerns about delaying the timeline of the expected interest rate cuts by the Federal Reserve. Gold rallied back to $2,030 on strong bargain buying demand as the markets rolled out of London into the U.S.. During U.S. trading Gold has traded between $2,016 and $2,025 per ounce. At 11am PT today, Gold is trading at $2,025 per ounce, up $1.

SILVER

In oversea markets and in the U.S. commodity markets Silver has traded between $21.90 and $22.59 per ounce. Silver appears to be finding strong demand and support above the key $22 per ounce support level. At 11am PT today, Silver is trading at $22.27 per ounce, down $0.09.