As Gold Builds A Base, It Would Be Good For Silver To Do The Same

GOLD

Gold appears to be establishing a new base above the $1,650 per ounce level. This would be very bullish for Gold to consolidate its recent gains for at least a week before moving on to firmly break above the key $1,700 resistance level. At 11am PT today, Gold is trading down $10 per ounce, trading at $1,662 on normal volume.

SILVER

As Gold builds a base above $1,650, it would be good for Silver to do the same above the $15 level. Demand for popular physical Silver investment products continues to be strong. At 11am PT today, Silver is trading at $15.22 per ounce, up $0.16 on excellent volume.