Gold staying in tight trading range

GOLD

Gold has stayed in a very tight $6 high/low trading range all day, between $1,253 and $1,259 per ounce. Staying above the important $1,250 per ounce support/resistance level is very healthy for the short-term Gold price. At 11am PDT today, Gold is down $1, trading at $1,255 per ounce on normal volume.

SILVER

Silver is still trading above and below the key $16 per ounce level today. If Gold can hold above $1,250 on Monday, I would expect to see Silver firmly move above $16. At 11am PDT today, Silver is trading at $16 per ounce, down $0.02 on average volume.