After yesterday's bearish statements from Fed Chairman Powell, Gold found support at $1,315 per ounce in Asian markets. In the past two years, every time we see a sell-off in the Gold market a major buyer appears to provide great price support. After looking at the hundreds of tons of Gold that have been added to reserves from the Russian and Chinese Central Banks, its clear where that buying is coming from. At 11am PST today, Gold is trading at $1,318 per ounce, unchanged from yesterday on good volume.


Like yesterday, the Silver price found support around $16.30 per ounce this morning. Demand is moderate at best, but bargain buying is providing good support. At 11am PST today, Silver is down $0.02 per ounce, trading at $16.42 on average volume.