Gold & Silver Test Support Levels

GOLD

Gold tested its $1,320 support level this morning, reaching a low of $1,319.40 per ounce, and held on excellent volume. As I have said before, it would be bullish for the Gold price if it could establish a new trading range between $1,320-$1,350 per ounce for a short period. At 11am PT today, Gold is trading at $1,328 per ounce, unchanged on excellent volume.

SILVER

Silver also tested its support level this morning, reaching a low of $14.54 per ounce before finding buyers and short-covering. Silver quickly moved back above the $14.70 level on excellent volume. At 11am PT today, Silver is up $0.08 per ounce, trading at $14.75 on excellent volume.