Gold is trading in a narrow range with good support

GOLD

Today Gold has traded in a very narrow $6 high/low spread, from $1,274 to $1,268 per ounce. It appears Gold is finding excellent support around the $1,270 level, which is allowing bargain buying in this range. This is a positive for Gold in the face of a stronger U.S. Dollar. Another positive for the Gold price is the equity market; many of the popular Gold/Silver mining stocks have turned higher yesterday and today. At 11am PDT today, Gold is trading at $1,273, down $2 per ounce on normal volume.

SILVER

Today Silver found support again at the $16.50 per ounce level. Demand is increasing for many Silver investment products at the current attractive price. At 11am PDT today, Silver is up $0.02 per ounce, trading at $16.67 on good volume.