Gold Trading Above The $2,900 Level And Moving Higher

GOLD

This morning Gold reached another all-time record high of $2,959.50 per ounce during Gold trading in London. The increase was driven by a weaker U.S. Dollar (a two-month low) and lower U.S. economic data and higher inflation numbers. The lack of confidence in the U.S. government's actions continues to drive safe haven buying around the globe.

At 11am PT today, Gold is trading at $2,947 per ounce, up $7 on excellent volume.

SILVER

Silver tested its key $32 per ounce support level by reaching $32.01 before rallying higher. Silver traded today between $32.01 and $32.82 as it establishes a firm base for the next let higher.

At 11am PT today, Silver is trading at $32.35 per ounce, down $0.42 on good volume.