Gold & Silver Tested Support And Quickly Moved Higher

GOLD

Based on yesterday's lower-than-expected Jobs report, the feeling is that the Federal Reserve will lower interest rates soon. That feeling plus today the European Central Bank and Canada cutting its interest rates helped Gold rally. Gold breaking back above the key $2,350 resistance level has given positive momentum to the Gold price today.

At 11am PT today, Gold is trading at $2,374 per ounce, up $20 on excellent volume.

SILVER

Based on the above news, Silver quickly moved back above the $30 and $31 per ounce resistance levels. The Silver price has moved from a low of $29.47 on Tuesday to a high of $31.36 today. The ability of the Silver price to move that much, that fast, shows the explosiveness of Silver right now.

At 11am PT today, Silver is up $1.32 per ounce, trading at $31.30 on strong demand