Silver Showing Good Price Support Above $30

GOLD

Gold started today’s trading with a positive trend in Asia and the Middle East, reaching a high of $2,619 per ounce. When trading reached London, Gold started moving lower on news that the IMF was considering selling $10 Billion of Gold to provide debt relief for 86 countries. On that news and a stronger U.S. Dollar Index, the price of Gold sold-off and moved below the important $2,600 level.

At 11am PT today, Gold is trading at $2,583 per ounce, down $18 on excellent volume.

SILVER

The Silver price continues to show more strength than Gold, holding above the important $30 support level. Silver did reach a low of $30.40 per ounce today, but most of today’s trading has been above $30.50 per ounce.

At 11am PT today, Silver is down $0.10 per ounce, trading at $30.60 on good volume.