Gold continues to consolidate

GOLD

Gold continues to consolidate in a narrow $10 high/low trading range. With the U.S. Dollar moving higher today, I would say that’s slightly bullish. Gold continues to show increased demand every time it trades below $1,270 per ounce. At 11am PDT today, Gold is down $7 per ounce, trading at $1,270 on normal volume.

SILVER

Silver isn’t showing as much price support as Gold. Silver reached a low of $16.62 per ounce in early trading, before showing increased buying. At 11am PDT today, Silver was down $0.14 per ounce, trading at $16.70 on average volume.