GOLD

After yesterday's break below the $1,270 support level, Gold has found excellent support above $1,260 per ounce. For most of today’s trading, Gold has stayed in a $1,262 to $1,267 range, where large volumes of Gold were purchased, especially on the London Exchange. At 11am PST, today, Gold is trading at $1,265 per ounce, up $1 per ounce on heavy volume.

SILVER

Silver has not held up as well as Gold. In early trading, Silver broke down below its long-term support level of $16, reaching a low of $15.90 per ounce. Silver MUST move back above the $16 level to instill confidence in investors and traders. At 11am PST today, Silver is down $0.08 per ounce trading at $16 on heavy volume.