Up Up And Away For Gold And Silver Prices

GOLD

Now that Gold has cleared the key $3,000 per ounce level, it's moving higher on excellent trading volume. The end of the ceasefire in Gaza started this Gold rally during European trading. The next resistance level for Gold is $3,050 per ounce and it would be healthy for Gold to trade between $3,000 and $3,050 for a short period. That would establish $3,000 as a strong support level and then the price could move toward $3,100.

At 11am PT today, Gold is trading at $3,033, up $34 on excellent volume.

SILVER

Silver followed Gold higher this morning, moving over the key $34 per ounce resistance level. Silver reached a high of $34.34 today before seeing short-term profit taking.

At 11am PT today, Silver is trading at $34.08 per ounce, up $0.27 per ounce on good volume.