Gold Trying To Sustain Yesterdays Breakout

GOLD

Gold has traded above and below the key $1,220 breakout level today, reaching a high of $1,223 and a low of $1,215. To sustain yesterday’s breakout, we need to have Gold stay above the $1,220 per ounce level for a few days. Then, trade in the $1,220 to $1,250 range for a while. At 11am PDT today, Gold is trading at $1,220.50 per ounce, down $2.50 on good volume.

SILVER

Silver reached a high this morning of $14.73 before seeing short-term selling. With Gold trading above $1,220 per ounce, we need to see Silver move back above the key $15.00 per ounce resistance level very soon. At 11am PDT today, Silver is trading at $14.60, up $0.03 per ounce on average volume.