Strong Demand For Gold Continues

GOLD

Based on concerns about the FOMC minutes, which will be released after today, the Gold price tested support and reached $1,466 earlier today. Gold quickly rallied back to the $1,475 level with fresh bargain buying demand. The strong demand continues, as Trump threatens the Chinese with raising tariffs in December if they don’t agree to a phase-one trade deal later this month. At 11am PT today, Gold is trading at $1,471 per ounce, down $4 on normal volume.

SILVER

Silver also tested support this morning, reaching the $17 level before rallying higher. Silver continues to show good demand at the $17.10 per ounce level. At 11am PT Today, Silver is trading at $17.12 per ounce, down $0.05 on good volume.