Gold & Silver Test Key Support & Resistance Levels

GOLD

Gold traded in overseas and US markets between $4,604 and $4,697 per ounce.
From that trading range, you can see that Gold both tested the $4,700 resistance level and the $4,600 support level today.
Gold should remain in the range for the balance of August; we should see a breakout in September as worldwide demand increases.
$5,000 or higher is looking better and better for year-end.

At 11 am PT today, Gold is trading at $4,649 per ounce, up $11 from yesterday.

SILVER

Just like Gold, Silver tested its $67 support level, reaching a low of $67.33 during London trading, while briefly hitting a high of $70.08 in China.
I would hope to see Silver trade between $68 and $70 till the end of the month.
$70 is going to be a difficult resistance level, but with Chinese buying, I believe it will break above in September.

At 11 am PT today, Silver is trading at $68.99, up $0.40 from yesterday