Silver Goes Crazy On Light Volume

GOLD

After reaching a high of $1,816 per ounce this morning, Gold saw some normal profit-taking. I believe we will see Gold build a new base above $1,800 for at least a couple weeks. Gold should test $1,800 a number of times, maybe hitting $1,780 once or twice, but with the support it continues to show the price direction is higher. At 11am PT Today, Gold is down $11, trading at $1,802 per ounce on average volume.

SILVER

Silver went crazy this morning on light volume, reaching a high of $19.13 before smart professional traders started selling (sorry I was sleeping), driving the price below $18.50 per ounce. Silver needs to build a new base in the $18.50 to $19 level before breaking the $19 resistance level. At 11am PT Today, Silver is trading at $18.65, down $0.10 per ounce on normal volume.