World Gold Council Show Heavy Demand For Physical Gold

GOLD

Gold traded today between $1,767 and $1,787 waiting for a firm direction. A move back above the key $1,800 support/resistance level will be bullish for the short-term price direction. Reports from the World Gold Council continued to show heavy demand for physical Gold from Central Banks and investors in many countries, especially at the current low price. At 11 am PT today, Gold is trading unchanged at $1,775 per ounce on good volume.

SILVER

With Gold showing price weakness, Silver briefly broke the key $27 level, reaching a low of $26.82 per ounce. At that price, we saw sizeable bargain buying and the price quickly moved back above $27. At 11 am PT today, Silver is down $0.24 per ounce, trading at $27.06 on excellent volume.