Gold And Silver Building A Firm Base For The Next Leg Higher

GOLD

Gold traded today in Asia and Europe between $1,963 and $1,983 per ounce in light trading. Commodity traders in the U.S. are expecting a light holiday week and many of them are out for a long weekend. I would expect to see Gold trading in a tight range during the week, building an excellent base for the next move higher. At 11am PT today, gold is trading at $1,977 per ounce, down $5 on light volume.

SILVER

Silver is mirroring gold, with light trading in a narrow range above and below the $23.50 per ounce level. Many of the world’s largest mints will be setting allocations for their popular Gold and Silver coins next week. Since demand has been strong, I expect 2024 mintages to be high. At 11am PT today, Silver is down $0.25 per ounce, trading at $23.52 on light volume.