Gold trading with average volume

GOLD

Today Gold traded between $1,285 and $1,295 per ounce with average trading volume. I am disappointed that Gold hasn’t moved back above the key $1,300 level. I’m now concerned that we may test the $1,280 level before moving back up. At 11am PDT today, Gold is trading at $1,291 per ounce, down $2 on normal volume.

SILVER

Silver has traded actively above and below the key $16.50 per ounce level in Asian, European, and U.S. markets. I believe Silver is waiting for direction from the Gold market. At 11am PDT today, Silver is up $0.05 per ounce, trading at $16.45 on good volume.