Silver Found Excellent Support Above $25 Resistance Level

GOLD

Gold has been higher since the opening in Asia, breaking above the key $1,950 per ounce resistance level in London and moving higher on short-covering. News that Russia could use their Gold reserves to support the falling Ruble has had mixed reactions to the market. At 11am PT Today, Gold is trading at $1,968 per ounce, up $28 on excellent volume.

SILVER

Silver was the leader in the precious metal market today. Silver found excellent support above the $25 resistance level, then we saw fresh buying. Silver reached a high of $25.99 today, before seeing some light profit-taking. At 11am PT today, Silver is up $0.57 per ounce, trading at $25.73 on strong demand.