Gold & Silver Test Support And Are Moving Higher

GOLD

This morning in late Asian trading and early European trading Gold reached a low of $1,910 per ounce. As the market rolled out of Europe and into the U.S. we saw heavy demand, driving the price up $20 per ounce. The U.S. market is focusing on data released last Friday showing that U.S. inflation cooled in May, while consumer spending stagnated, signaling that the economy may be losing steam. At 11am PT today, Gold is trading at $1,921, up $3 on average volume.

SILVER

As Gold sold off in early trading the price of Silver held well above the $22.75 level. Silver is looking to break above the $23 level today on bargain buying. At 11am PT today, Silver is up $0.15 per ounce, trading at $22.90 on normal volume.