Worst Is Over For Silver If Gold Holds Above $1300

GOLD

Yes, major buyers stepped up this morning in the Asian and the Middle Eastern markets (Central Banks?) and Gold rallied back to the $1,300 level quickly. Monday could be an interesting day if Gold can firmly break back above the $1,300 resistance level. At 11am PT today, Gold is trading at $1,300 per ounce, up $14 on excellent volume.

SILVER

After reaching a low of $14.95 per ounce in early trading, Silver rallied with Gold, reaching a high of $15.34 before seeing short-selling. It appears that the worst is over for Silver, if Gold can hold above $1,300. At 11am PT today, Silver is up $0.25 per ounce, trading at $15.28 on excellent volume.

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