Gold is seeing some normal profit-taking

GOLD

After hitting a 9-week high last Friday, Gold is seeing some normal profit-taking. The Gold price is holding its own today, trading in the $1,278 to $1,289 range. This is a good sign for the precious metal considering the U.S. Dollar Index was higher in early trading, there’s been no major economic news, and the North Korean tensions seem to have backed down a bit for the moment. At 11am PDT Gold is trading at $1,281, down $8 on good volume.

SILVER

Like Gold, Silver has also remained resilient today. Silver stayed above $17 for most of today’s trading, rallying to $17.25 at one point. Silver now needs to consolidate its gains and remain above $17 for a few days to gear up for the next move higher. At 11am PDT today, Silver is down $.04 per ounce, trading at $17.12 on above average volume.