GOLD

Gold tested its $1,270 support level this morning, reaching a low of $1,272 before major buying appeared. Today, Gold has traded in a narrow $5 range, from $1,272 to $1,277 per ounce, showing excellent consolidation. At 11am PST today, Gold is trading at $1,275, down $5 on good volume.

SILVER

Silver reached a low of $16.23 this morning in Asian markets before seeing bargain buying. Physical demand has picked up in the over-the-counter markets and future markets at these lower price levels. At 11am PST today, Silver is down $0.04 per ounce, trading at $16.34 on good volume.