Gold continues to trade in narrow range

GOLD

Gold continues to stay in a very tight $7 high/low trading range. Again, trading is above and below the important $1300 level, with a high of $1,301 and low of $1,294 per ounce. Right now there is a massive amount of accumulation by Central Banks. At 11am PDT today, Gold is trading at $1,298 per ounce, unchanged from Thursday’s price.

SILVER

Silver has established a new and higher trading range above $16.50 per ounce. This morning, Silver reached a high of $16.86 before finding support above $16.50. At 11am PDT today, Silver is up $0.05 per ounce, trading at $16.74 on good volume.