Gold & Silver Moving Higher On Excellent Volume

GOLD

The U.S. Nonfarm payroll for September was released today. The 336,000 new jobs were substantially higher than the 170,000 jobs which were anticipated by the Labor Department. Gold quickly dropped to $1,809 (a new 2023 low), but quickly rallied back to above $1,830 on bargain buying. There appears to be a sizeable number of buyers on any Gold price weakness. At 11am PT today, Gold is trading at $1,832 per ounce, up $13 on excellent volume.

SILVER

Silver quickly moved higher, above the $21 level, when the Gold price rallied. Silver, which clearly has been oversold, jumped $0.70 per ounce on today’s news. Premiums on many of the popular Silver bullion investment coins remains attractive. At 11am PT today, Silver is up $0.60 per ounce, trading at $21.60 on good volume.