Gold Still Awaiting Direction
Gold tested support this morning, reaching a low of $1,223 per ounce. We continue to be locked in the $1,220 to $1,240 trading range awaiting direction. Hopefully, that direction will be higher after the results of today’s elections is clear. At 11am PDT today, Gold is down $6 per ounce, trading at $1,226 on average volume.
Silver briefly broke below the $14.50 support level this morning, reaching $14.47. At that point buyers appeared and drove the price higher. At 11am PDT today, Silver is trading at $14.53 per ounce, down $0.14 on normal volume.