GOLD/SILVER Staying Above Key Support Levels

GOLD

A strong U.S. Dollar is holding back the Gold price. With the U.S. Dollar Index at almost 103, that’s a $78 downward adjustment to the Gold price. Gold reached a low of $2,604 per ounce this morning as it tested the key $2,600 support level. Any aggressive action by Israel against Iran would cause a major rally in the Gold price.
At 11am PT today, Gold was trading at $2,610 per ounce, down $7 on average volume.

SILVER

The Silver price is showing excellent support around the $30.50 per ounce level. Demand continues to be strong in most of the foreign and domestic exchanges and markets.
At 11am Pt today, Silver is up $0.05 per ounce, trading at $30.50 on excellent volume.