Silver Finds Excellent Price Support Above $28

GOLD

In an attempt to break the $2,000 barrier in Asian and early European trading, Gold reached a high of $1,995 per ounce. There was not enough demand to break $2,000, so short sellers came in, driving the price down to $1,970 per ounce. I believe the next attempt, hopefully from a higher base, will be more successful. At 11am PT today, Gold is trading at $1,974 per ounce, up $2 on good volume.

SILVER

During the Gold rally, Silver reached a high of $29.02 per ounce. Silver sold off with the Gold price, but found excellent price support above $28. At 11am PT today, Silver is up $0.10 per ounce, trading at $28.40 on excellent volume.