Federal Reserve Making Changes That Encourage Gold To Take A Pause

GOLD

Last Thursday 11/4, Gold closed at $1,629 and in just six trading days, Gold has rallied over $134 on excellent volume. The belief that the Federal Reserve may change its upward move on interest rates is taking hold in many financial markets. It would be good for gold to take a short pause and build a trading range between $1,750 and $1,800 per ounce. At 11am PT today, Gold is trading at $1,764 per ounce, up $13 on good volume.

SILVER

Silver is trying to establish a new trading range between $21.50 and $22 per ounce. At this higher price, the premiums on popular physical Silver investments are starting to come down. At 11am PT today, Silver is trading at $21.65, down $0.08 on normal volume.