Gold & Silver Stop Dropping And Start Climbing

GOLD

After yesterday’s drop in August job numbers by adding only 38,000, well below the forecast of 47,000, Gold started moving higher. The speculation is that it will cause the Fed to have second thoughts on raising interest rates this month. Gold reached a low of $4,280 early yesterday, and today it has reached a high of $4,496 before seeing some light selling in U.S. trading.

At 11am PT today, Gold is trading at $4487.08 per ounce, up $101.54 on excellent volume.

SILVER

Silver, like Gold, reached its recent low yesterday morning of $63 per ounce and turned higher by day’s end after the disappointing August jobs numbers were reported. Today, Silver has reached a high of $66.91 in early U.S. trading before seeing some short-term profit-taking.

At 11am PT today, Silver is up $1.78 per ounce, trading at $67.13 on excellent volume.