Gold in healthy trading range after recent rally
After Gold’s recent rally, it appears to be moving into a very healthy trading range. Gold should consolidate in the $1,300 to $1,325 per ounce price range for a bit. At 11am PST today, Gold is trading at $1,312 per ounce, down $7 on excellent volume.
Silver broke below its $17 per ounce support level this morning, reaching a low of $16.89 before buyers appeared. Silver needs to move back above the key $17 level by Friday to stay short-term bullish. At 11am PST today, Silver is down $0.14 per ounce, trading at $16.98 per ounce on good volume.