Gold Stuck In A Tight High/Low Range
Gold is stuck in a tight $8 High/Low range between $1,227 and $1,235 per ounce. It appears the precious metal markets are waiting for the results of tomorrow’s elections before giving us short-term direction. At 11am PDT today, gold is trading at $1,232, up $1 on light volume.
For most of the trading day, Silver has stayed in the $14.60s, showing light demand and supply. Like Gold, I believe Silver is waiting for short-term direction from tomorrow’s elections. At 11am PDT today, Silver is down $0,04 per ounce, trading at $14.67 on light volume.