Key Support Levels Are Holding For Both Gold & Silver

GOLD

I liked the way the Gold price traded since the announcement of the US/ECU trade agreement on Sunday. Gold has tested the key $3,300 support level three times and shown excellent demand to keep the price above that key level
However, tomorrow will be a major direction determinator, as the Federal Reserve will update the financial markets on the direction of US interest rates.

At 11 am PT today, Gold is trading at $3,328 per ounce, up $17 from yesterday.

SILVER

Silver continues to test the $38 per ounce support level. Since Sunday’s announcement, Silver has traded below $38 per ounce four times and rallied back every time. Since Sunday, Silver has traded from a low of $37.82 to a high of $38.40 per ounce in very active trading.

At 11 am PT today, Silver is up $0.17 per ounce, trading at $38.22 on excellent volume.