Gold Tests Support And Moves Back Above $2,500

GOLD

Gold reached a new All-Time high of $2,527 per ounce in early Middle East and European trading before seeing short-term profit-taking. Gold is firmly holding above the key $2,500 after last week’s comments by the Federal Reserve Chairman.

At 11am PT today, Gold trading at $2,517 per ounce, up $7 on average volume.

SILVER

Silver reached a high of $30.24 per ounce when Gold reached its high during early trading. Silver has spent most of today’s trading moving above and below the key $30 per ounce level.

At 11am PT today, Silver is up $0.18 per ounce, trading at $29.98 on normal volume.