Gold Awaiting Direction From Federal Reserve And Congress

GOLD

Thinking about the quiet before the storm is like watching Gold and the other precious metals trading this week. Gold is trading in a very thin $10 high-low range from $1,776 to $1,786 per ounce. I believe we are waiting for direction from the Federal Reserve or Congress. When Gold breaks out above $1,800 per ounce comes, it will be quick and strong. At 11am PT today, Gold is trading at $1,778 per ounce, down $2 on average volume.

SILVER

Silver continues to show more price support than Gold today, reaching a high of $26.55 before seeing some light selling. Silver, Platinum, and Palladium are moving in the right direction, and when Gold moves it will catch up quickly. At 11am PT today, Silver is up $0.18 per ounce, trading at $26.36 on good volume.