Gold & Silver Hit Lows And Start To Rally Higher

GOLD

Last night in Asian trading, Gold reached the 2023 low of $1,818 per ounce. At that point, we saw fresh buying that immediately rallied the price at $10 per ounce on sizeable trading volume. After dropping over $100 in the past week, with seven days of declines, Gold has finally found a bottom and represents an outstanding value at that price level. At 11am PT today, Gold is trading at $1,827 per ounce down $6 on the day.

SILVER

Silver briefly dropped below the $21 per ounce support level, reaching $20.90 in overnight trading. Silver started in rally before Gold and quickly jumped above $21, reaching $21.40 on sizeable bargain buying in Asian markets. At 11am PT today, Silver is up $0.02 per ounce, trading at $21.27 on heavy volume.