Gold Building New Base To Break Above $1300 Support Level
This morning gold moved $5 lower on higher interest rates which kept the U.S. Dollar Index strong. Consolidating the Gold price in this range would be health for a short period of time. At 11AM PT today, Gold is trading at $1291.50 per ounce, down $8.50 on normal volume.
Silver followed Gold lower on normal trading volume. After dropping below the key $15 per ounce level last week, Silver needs to firm up and stay above that level this week. At 11AM PT today, Silver is trading at $15.33 per ounce, up $.07 on normal volume.