Gold has continued higher

GOLD

After the Gold rally that started on July 7th, with Gold at $1,212, the price has continued to move higher. This week I was hoping the Gold price would consolidate by staying above the $1,250 per ounce level all week. Clearly, Gold is more bullish than I thought, reaching a high of $1,271 today. At 11am PDT today, Gold is trading at $1,269 per ounce, up $9 on excellent Friday volume.

SILVER

Silver tested the $16.50 support this morning, reaching $16.49 at the low end, then quickly rallying back. I think Silver will test the important $17 per ounce resistance level next week. At 11am PDT today, Silver is up $0.08 per ounce, trading at $16.68 on good volume.