Gold remains in a tight bullish trading range

GOLD

Gold continues to stay in a very bullish tight trading range today, from $1,332 to $1,342 per ounce. Like I mentioned in yesterday’s Weekly Market Report, I look for Gold to trade in the $1,310 to $1,350 range this coming week. At 11am PDT today, Gold is trading at $1,333 per ounce, down $5 on good volume.

SILVER

Silver tested the $18 per ounce resistance level this morning, reaching a high of $18.02 before sellers appeared. For most of today, Silver traded between $17.82 and $17.92 per ounce. Silver trading continues to mirror Gold, so when Gold moves to $1,350, Silver should definitely move above $18. At 11am PDT today, Silver is up $0.03 per ounce, trading at $17.87 on normal volume.