Gold Building A Firm Base Above $3,200 Per Ounce

GOLD

Gold has traded today between $3,208 and $3,233 per ounce as it builds a firm base for the next leg higher to $3,300. Global demand continues to move higher and I am seeing increasing demand within the U.S. The U.S. Dollar remains weak, which is also helping the price move higher.

At 11am PT today, Gold is trading at $3,226 per ounce, up $13 on good volume.

SILVER

Silver is establishing a firm base above $32 per ounce today, trading between $32.06 and $32.46 per ounce. Staying above $32 per ounce is important for Silver with Gold at the current price level.

At 11am PT today, Silver is up $0.08 per ounce, trading at $32.34 on excellent volume.