Gold And Silver Establishing New Base

GOLD

Today, Gold has traded between $1,220 and $1,229 per ounce. This trading activity is excellent for Gold, as the price establishes a new base for moving higher later this month. Another bullish factor for Gold is the U.S. Dollar Index has stayed strong above the 95 level. At 11am PDT today, Gold is trading at $1,225, down $2 per ounce on active volume.

SILVER

Silver has also established a new trading range between $14.50 and $14.75 per ounce. It would be bullish if Silver could at least test the $15 resistance level. At 11am PDT today, Silver is down $0.05 per ounce, trading at $14.65 on average volume.