Silver Moves Back Above $17 Resistance Level

Silver Moves Back Above $17 Resistance Level

GOLD

After reaching a low of $1,488 in early trading, Gold rallied back above the key $1,500 on fresh buying. The U.S. Dollar Index has been virtual unchanged today, giving the precious metal markets no direction. At 11am PT, Gold is trading at $1,506 per ounce, up $9 on excellent volume.

SILVER

Silver sold off in early Asian trading, reaching a low of $16.80 per ounce before rallying $0.15 per ounce on European and U.S. markets. By the close Silver demand came in and it moved above the $17 resistance level. A 11am PT, Silver is up $0.12 per ounce, trading at $17.05 on good volume.

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