Gold continues to trade in very narrow range<br />Daily Market Report 4/28/17

GOLD

Its Friday and Gold continues to trade within a very narrow $5 per ounce range from $1,263 to $1,268 per ounce. I see this trading as the end of the recent decline, and the price should move higher on Monday. At 11am PDT today, Gold is trading at $1,267 per ounce, up $2 on normal volume.

SILVER

Silver hit another recent low of $17.15 per ounce. If Gold doesn’t move higher on Monday, I see Silver hitting the $17 per ounce support level. If Gold does move higher Monday, as I expect, we should see Silver move back above $17.50 per ounce. At 11am PDT today, Silver is down $0.09 per ounce, trading at $17.25 on average Friday volume.