Gold and Silver Establish New Trading Ranges

GOLD

Gold has definitely established a new trading range right now between $1,750 and $1,800 per ounce. This gives Gold the ability to build a firm base for the next leg higher, above $1,800. At 11am PT today, Gold is trading at $1,777 per ounce, down $13 on average volume.

SILVER

After reaching a recent high of $20.40 per ounce, Silver sold off with Gold earlier today. Silver is now trading above and below the key $20 per ounce support level. At 11am PT today, Silver is down $0.25 per ounce, trading at $19.95 on normal volume.