Gold Locked Into a Tight Trading Range

GOLD

Gold continues to be locked into a tight trading range above and below the important $1,200 per ounce resistance/support level. Both the U.S. Dollar index and interest rates are about unchanged from yesterday, providing no direction for precious metals. At 11am PDT today, Gold is trading at $1,202 per ounce, up $1 on light volume.

SILVER

Silver is showing a bit more price strength than Gold today, reaching a high of $14.58 per ounce in early trading. $14.50 has been a recent resistance level and it would be bullish for Silver to break and stay above that level for a few days. At 11am PDT today, Silver is up $0.16 per ounce, trading at $14.48 on normal volume.