Gold trading in a very narrow range

GOLD

Gold is trading today in a very narrow $6 high/low range, from $1,265 to $1,259 per ounce. Considering the recent break back above the key $1,250 level, I would call this Gold consolidation. At 11am PST today, Gold is trading at $1,262 per ounce, up $1 on average volume.

SILVER

Silver has stayed above the key $16 per ounce level all day, showing excellent demand when it reached the low of $16.03 in Asian trading. Silver staying above $16 per ounce for the balance of the week would be very bullish. At 11am PST today, Silver is up $0.03 per ounce, trading at $16.13 on normal volume.