Gold & Silver Test Support Levels Again And Rally Back

GOLD

Gold broke below the $4,500 level again this morning, reaching a low of $4,489 before rallying back on strong volume. Gold has tested its $4,500 support levels and rallied back five times in the last couple of weeks. This is an excellent sign that Central banks are actively buying around the $4,500 per ounce level.

At 11am PT today, Gold is trading at $4,550 per ounce, up $17 on excellent volume.

SILVER

Silver followed Gold lower, reaching $74.37, and rallied back above $77 per ounce. Like Gold, Silver is also showing excellent support, but at the $75 per ounce level.

At 11am PT today, Silver is up $0.70 per ounce, at $76.65 on good volume.