Gold & Silver Test Support Levels And Rally Back

GOLD

Gold broke below the $4,500 level yesterday, reaching a low of $4,452 during trading in India. Strong demand came back in London and the U.S., and Gold moved back over its $4,500 support level. May appears to be a record month of Central Bank Gold purchases; it’s the best way to get rid of U.S. Dollars while picking up a bargain. A weaker U.S. Dollar helped Gold move higher.

At 11am PT today, Gold is trading at $4,533, up $31 on excellent volume.

SILVER

Silver followed Gold highs during London and U.S. trading. Reaching a low of $73.02 before rallying back above $75 per ounce.

At 11am PT today, Silver is trading at $75.95 per ounce, up $1.42 on excellent demand.