Gold is trading within consolidation levels
Gold traded in a $11 high/low range today within the recent consolidation levels. Gold reached a low of $1,336 and quickly moved back above $1,340 when the U.S. Dollar showed weakness. The Federal Reserve stated in today’s meeting that there was no change in interest rates. At 11am PST today, Gold is trading at $1,341 per ounce up $3 on average volume.
Silver continues to show support above the $17.00 per ounce level. Silver did hit a low of $17.07 before bargain buyers appeared, raising the price $0.25 per ounce. At 11am PST today, Silver is up $0.16 per ounce, trading at $17.30 on good volume.