Gold Tests Its Lows On Labor Department Reports

GOLD

Today, Gold tested its support in early trading, reaching a low of $1,757 per ounce before seeing a sizeable rally. One of the factors that caused Gold to test its lows was the Labor Department reported that non-farm payrolls employment raised 4.8 million and an unemployment rate of 11.1% for June. At 11am PT Today, Gold is trading at $1,778 per ounce, up $5 on good volume.

SILVER

For the most part of the trading day, Silver has traded above and below the key $18 level. After reaching a low of $17.73, when Gold sold off, Silver has moved back into the $17.90 area. At 11am PT today, Silver is $18.01 per ounce, up $0.03 on average volume.