Silver Equities Move Higher Following Recent Lows

GOLD

Gold briefly broke below the key $1,450 support level this morning in Asian trading. Gold quickly rallied $6 on excellent volume to $1,456 per ounce when opening in Europe and the U.S. markets. At 11am PT today, Gold is down $6 per ounce, trading at $1,458 on good volume.

SILVER

Silver dropped with Gold, reaching a low of $16.59 before seeing a significant rally. One of the indicators I follow for the future direction of the Silver price is the Silver equity markets (ETF & mining shares). Today, with Silver testing recent lows, Silver equities are moving higher, in some cases higher than last week when Silver was $0.75 higher. At 11am PT today, Silver is trading at $16.86, up $0.04 on good volume.