Another quiet day

GOLD

Gold prices are moving slightly higher today and are currently around the intraday highs. It’s a fairly quiet day as we go into weekend, but it appears the short traders are covering themselves for the weekend as the volume picked up slightly around the day’s highs. It also helps to see the US Dollar slightly lower today. At 11am PDT today, Gold is trading at $1,225, down $1 on lower than normal volume.

SILVER

After dropping during the London trading hours, Silver is around its day’s highs during US trading. I suspect the technical traders are covering themselves here as well, going into the weekend. At 11am PDT today, Silver is trading at $15.54, up $0.04 on average volume.