GOLD

After this week's third attempt of breaking below Gold's very important $1,300 support level, Gold held and rallied $7 per ounce. Like I have said before, when Gold nears the $1,300 level, buyers come rushing in. At 11am PDT today, Gold is up $7 per ounce, trading at $1,313 on excellent volume.

SILVER

Silver followed Gold higher this morning, reaching a high of $16.63 before seeing short-term profit taking. Silver needs to move back above $16.50 to instill trader confidence. At 11am PDT today, Silver is trading at $16.45 per ounce, up $0.10 on good volume.