Gold & Silver Starting The Year-End Rally

GOLD

A combination of the fall of the Syrian government and China buying Gold after a six-month pause is driving fresh Gold buying this morning in overseas trading. The Gold price was trading at $2,655 as it moved into the U.S. and the Gold market reached a high of $2,678. There is also a strong expectation that there will be news of an interest rate cut at the Federal Reserve’s meeting next week.
At 11am PT today, Gold is trading at $2.662 per ounce, up $26 on excellent volume.

SILVER

Silver followed Gold higher this morning, breaking above the key $32 per ounce resistance level. Silver needs to stay above the key $32 level for the next few days to confirm this is the start of the year-end rally.
At 11am PT today, Silver is up $0.84 per ounce, trading at $31.88 on excellent volume.