Gold has traded in volatile fashion in a tight band over the past two weeks, unnerving speculators who have mostly preferred not to hold onto their positions. But short-selling has alternated rapidly with waves of safe-haven demand while macroeconomic conditions remain worrying. At 11am PDT, gold is trading up $1.60 per ounce at $1,642.10 per ounce on normal weekend light volume
Silver is trading in a 50 cent range with resistance at $32.00 per ounce, At 11am PDT, Silver is trading at $31.78 per ounce, down $0.06 per ounce on light volume
An April 19th Press Release from the Silver Institute provided the following information: Strong global silver investment in 2011 paved the way to a record annual average silver price of $35.12 per ounce in a year marked by steep price volatility. 2011 showed a decrease in silver supplies of 34 million ounces to 1,040.6, while an increase in coin and medal investor demand of 18.8 million ounces.
For the complete report from the Silver Institute visit: