Alix Steel
The Street
May 9, 2011

Gold and silver prices were recovering Monday after a painful selloff last week as bargain hunters stepped in.

Gold for June delivery was adding $11.80 to $1,503.40 at the Comex division of the New York Mercantile Exchange after falling 4.8% in a week. The gold price Monday has traded as high as $1,510.70 and as low as $1,489. The spot gold price was rising $8.70, according to Kitco’s gold index.

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Silver prices were adding $1.54 to $36.83 an ounce after plummeting 27% last week.

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