Gold & Silver Moving Lower On High Jobless Claims

GOLD

Gold is seeing strong demand in China and India; the weakness is coming in London and the U.S. markets. Yesterday’s hawkish comments for the Federal Reserve chairman, combined with today’s drop of 226,000 in U.S. jobless claims, drove Gold lower.

At 11am PT today, Gold is trading at $4,233 per ounce, down $97 for the day.

SILVER

The Silver price was over $69 per ounce during trading in China and India, when trading moved to London, and U.S. Silver reached a low of $65.67 before seeing bargain buying.

At 11am PT today, Silver is down $3.70 per ounce, at $66.15 on excellent volume.