Gold continues to consolidate<br />Daily Market Report 6/1/17

GOLD

Gold continues to consolidate recent gains in a tight trading range between $1,262 and $1,270 per ounce. I think we are going to see Gold break out above the $1,270 area soon, heading to the key $1,300 per ounce resistance level. At 11am PDT today, Gold is trading at $1,267 per ounce, down $4 on average volume.

SILVER

Silver tested its $17 per ounce support level this morning, hitting $17.01 before bargain buyers jumped in, taking the price up $0.20 immediately. When Gold breaks out above $1,270, Silver could easily jump $0.25 per ounce. At 11am PDT today, Silver is down $0.05 per ounce, trading at $17.27 on normal volume.