GOLD

Lower 10-year U.S. Bonds and a lower U.S. Dollar Index are helping Gold move above the $1,230 level today. With Gold on the road to $1,300 in August, the next important short-term resistance level is $1,250 per ounce. At 11am PDT today, Gold is trading at $1,234 per ounce, up $6 on average volume.

SILVER

Silver has quickly moved above the $16 level today, reaching a high of $16.23 per ounce in early trading. Now, I look for a little consolidation above $16 for three to four trading days. This would allow fresh investor buying. At 11am PDT today, Silver is up $0.25 per ounce, trading at $16.13 on normal volume.