Gold & Silver Test Key Support Levels And Bounce Back

GOLD

Gold reached a low last night in overseas trading of $4,655 per ounce on Silver’s weakness, then quickly jumped, on heavy volume, back above the $4,800 per ounce level. Then, in late London trading, Gold moved back above $4,900 per ounce. During U.S. trading, the Gold price stayed above $4,900 and reached a high of $4,972

At 11am PT today, Gold is trading at $4,961 per ounce, up $100 on the day.

SILVER

In overseas trading last night, Silver briefly made a 2026 low of $63.98 per ounce. This drop was partially caused by a sharp increase in margin requirements by the U.S. CME Group. Buyers quickly jumped in at the lows and drove the price up $10, taking the Silver price back over $73 per ounce. Silver kept on moving higher during London trading, above $75 per ounce. In the U.S., Silver reached a high of $78.28 before seeing weekend selling.

At 11am PT today, Silver is up $77.50 per ounce, up $0,70 on the day.