U.S. Retail Sales Report Tests Gold Price

GOLD

Gold reached a high of $1,915 before the September U.S. retail sales were reported. An increase of 1.9% caused the Gold price to test the $1,900 level. The U.S. Dollar Index is virtually unchanged for the day and there was no impact on the price with no fresh news on any stimulus package. At 11 am PT today, Gold is trading at $1,902 per ounce, down $4 on average volume.

SILVER

Silver found no difficulty staying above the key $24 per ounce support level today, even with Gold briefly falling below $1,900. Monday should confirm that $24 is a firm support level. At 11 am PT today, Silver is up $0.05 per ounce, trading at $24.27 on normal volume.