Fire & fury, and Gold is back on its bullish track

GOLD

Fire & fury, and Gold is back on its bullish track, reaching a high of $1,276 today. First comes a break above $1,280, then some consolidation, and then a move to the long-term resistance level of $1,300. At 11am PDT today, Gold is trading at $1,272 per ounce, up $14 on good volume.

SILVER

Great 3% move in Silver this morning, reaching a high of $16.94 per ounce. Silver took direction from the Gold market this morning and fresh buying appeared. I have said it numerous time, Silver needs to get back above the $17 per ounce level to help restore a bullish commodity trader’s sentiment. At 11am PDT today, Silver is up $0.43 per ounce, trading at $16.84 on excellent volume.