Gold Consolidating In The Face Of Stronger U.S. Dollar

GOLD

Gold is trading in a very narrow $6 high/low range, from $1,288 to $1,294 per ounce today. Gold is consolidating in this range in the face of a stronger U.S. Dollar and higher interest rates. At 11am PT Today, Gold is trading at $1,292, which is unchanged from Tuesday’s close on normal volume.

SILVER

Silver tested its $15 per ounce support level again this morning and held. Without direction from Gold, Silver will probably stay in the $15 to $15.25 range for a while. At 11am PT today, Silver is up $0.06 per ounce, trading at $15.13 on average volume.

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