Daily Bullion Market Update 9/28/11

By Barry Stuppler - MintStateGold.com

GOLD

As the 17 Eurozone countries continue to vote on the debt bailout program, the gold market appears to have stabilized in a $1,600 to $1,675 trading range. Gold will benefit from increased investment demand if there is a split between 17 Eurozone member countries over a proposed $149 billion bailout package for Greece.  At 11 am PDT, gold is trading near the lows of the day at $1,606.40, down $44.80 per ounce in active trading.

SILVER

Silver is down $1.60, trading at $30.12 per ounce at 11am PDT. It’s important that silver stays above $30 per ounce to build support.  The volume of trading in Asian, European, and domestic markets has been extraordinarily high.

Posted in: Bullion & Metals

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