Gold has traded in a tight range today

GOLD

Gold has traded in a very tight $5 High/Low spread today, between $1,266 and $1,271 per ounce. The U.S. Dollar Index, which has pretty much dictated the price direction of Gold recently, is trading between 94 and 95. The Dollar Index did reach a high of 95.30, the highest in the last year. Gold needs some positive news to break above $1,280 and $1,300 per ounce. At 11am PDT today, Gold is trading at $1,269 per ounce, down $1 on average volume.

SILVER

Silver reached a low of $16.27 in early Asian trading before seeing serious buying. For most of the day, Silver has traded in the $16.40 to $16.45 area. At 11am PDT today, Silver is trading at $16.42 per ounce, up $0.05 on normal volume.