Sizable Gold Demand From Germany & France
Gold traded today between $1,282 and $1,290 per ounce. There was sizeable Gold demand in Europe today, particularly from Germany and France. I expect to see large Central Bank buying very soon. The U.S. Dollar index remains strong in the 96 area. At 11am PT today, Gold is trading at $1,287 per ounce, unchanged from yesterday, on average volume.
Silver tested the important $15 per ounce support level again this morning. Silver is finding fresh buying at the $15 level, but it isn’t sizeable. Silver could test the $15 level for a third time, and that would be key to the short term direction. At 11am PT today, Silver is down $0.08 per ounce, trading at $15.05 on average volume