Silver Finds Support And Moves Higher On Mint Report

GOLD

Gold sold off in late trading yesterday after the president tweeted a message calling for ending any stimulus relief legislation negotiations, until after the election. This caused the Dow Jones average to drop 500 points and Gold to drop over $25 before the market closed. Gold continued to drop in Asian and European trading before finding support above $1,880 per ounce. The financial markets are getting mixed messages from the White House and the equity, while the precious metal and U.S. Dollar Index are waiting for direction. At 11 am PT today, Gold is trading at $1,887, down $15 on good volume.

SILVER

As the price of Gold dropped, Silver found support at the $23.35 level and has moved higher this morning. The U.S. Mint just reported that almost 3 million 1oz Silver Eagles were sold in September, and over 21 million coins since the beginning of the year. See article: U.S. Mint September Sales - 134 Times More Silver Eagles Sold Than Gold Eagles. At 11 am PT today, Silver is down $0.05 per ounce, trading at $23.75 on excellent volume.