Silver Takes Price Direction From Gold Trading

GOLD

In late European trading Gold reached a high of $2,016 per ounce, before seeing heavy selling that took the price down to $1,977. At that price, there was sizeable bargain buying and the price quickly moved back to the $2,000 area. For the balance of the trading day, the Gold price fluctuated above and below the key $2,000 level. At 11am PT today, Gold is up $18 per ounce, trading at $2,004 on excellent volume.

SILVER

Silver rallied with gold in early trading reaching a high of $28.56 before seeing selling. At this point, Silver has been taking price direction from Gold trading and has sold off with Gold. Silver also rallied with Gold in late trading and move back above the $28 level. At 11am Silver is trading at $28.03 per ounce, up $0.53 on excellent volume.