Gold trading in range, building a base

GOLD

Gold appears to be forming a trading range between $1,180 and $1,200 per ounce. This would allow Gold to create an excellent base for the rally coming in the balance of this year. Many financial institutions feel Gold will be above $1,300 per ounce by year end. At 11am PDT today, Gold is trading at $1,188 per ounce, down $8 on average volume.

SILVER

Silver continues to show excellent demand above $14.50 per ounce. Premiums on Silver investment products have been moving higher and the demand increases. At 11am PDT today, Silver is down $0.18 per ounce, trading at $14.60 on normal volume.