Profit Taking In Gold, While Silver’s Rally Continues

GOLD

Gold was trading over $4,200 in China and India, reaching a high of $4,237 last night. Then, in Late London trading and in the U.S., selling hit the Gold market, dropping the price down to $4,165 per ounce.

Gold needs to stay above the key $4,200 level to stay bullish, and I believe it will.

At 11am PT today, Gold is trading at $4,190 per ounce, down $50 on normal volume.

SILVER

Silver traded lower in overseas trading last night, reaching a low of $56.52 per ounce. Then, during early U.S. trading, the rally started, driving the price up to $58.42 before seeing short-term profit-taking.

At 11am PT today, Silver is trading at $58.02 per ounce.