Gold & Silver Testing Support Levels

GOLD

Gold reached a low of $2,020 in early trading based on continued concerns about delaying the timeline of the expected interest rates cuts by the Federal Reserve. Gold rallied back to $2,032 on strong bargain buying demand as the markets rolled out of London into the United States. Traders are looking for direction from the December U.S. inflation report due out this Tuesday.

At 11am PT today, Gold is trading at $2,064 per ounce, down $10 on light trading.

SILVER

Silver broke below the $23 level, reaching a low of $22.85 before bouncing back with Gold. Silver is showing excellent demand and has rallied back to the unchanged level in spite of today’s decline in the price for Gold.

At 11am PT today, Silver is down $0.15 per ounce, trading at $23.11 on normal volume.