Light Profit Taking After Yesterday's Rally

GOLD

After the recent Gold rally from $1,780 to yesterday’s high of $1,827, we saw some profit taking today. Gold reached a low today of $1,811 per ounce, before seeing fresh buying. At 11am PT today, Gold is trading at $1,824 per ounce, down $5 on average volume.

SILVER

Silver also saw some light profit taking today after strongly moving above the key $23 per ounce resistance level yesterday. Silver tested that key level this morning, briefly reaching $22.97 before moving higher on good demand. At 11am PT today, Silver is down $0.04 per ounce, trading at $23.23 on normal volume.