Light Selling In The Precious Metals Markets

GOLD

As the equity markets get hammered again, I’m seeing some light selling in the precious metals markets. Gold reached a low of $1,232 this morning before finding buyers. At 11am PT today, Gold is trading at $1,240 per ounce, down $3 on average volume.

SILVER

Silver is following Gold’s lead by selling off in early trading, reaching a low of $14.45 before buyers stepped up. $14.50 is proving to be an excellent support level for Silver. At 11am PT today, Silver is down $0.12 per ounce, trading at $14.63 on normal volume.