Preicous metals are treading water
Gold is trading today in a very narrow $10 high/low trading range, between $1,337 and $1,327 per ounce. With the U.S. Dollar and interest rates hardly moving, the precious metals are treading water, waiting for a direction. Considering that the Dow Jones in up 400 points, I’m very happy with Gold up $5 for the day. At 11am PDT today, Gold is trading at $1,337, up $5 per ounce on excellent volume.
Silver is also stuck in a narrow price range between $16.30 and $16.60 per ounce. Silver is showing excellent price support at the current level. At 11am PDT today, Silver is up $0.18 per ounce, trading at $16.54 on good volume.