Gold Continues To Build A Firm Base For The Next Leg Higher

GOLD

Stronger interest rates on a global scale and a higher U.S. Dollar continue to put pressure on the precious metal markets. However, the geopolitical problems around the world are driving strong demand for Gold. Gold traded today between $1,976 and $1,996 with excellent trading volume. At 11am PT today, Gold is trading at $1,995 per ounce, up $8 from yesterday.

SILVER

Silver briefly crossed the $23 level, reaching $23.02 before seeing sellers. Trader sentiment on Silver is not bullish, they are waiting for a firm direction before taking any position in the metal. At 11am PT today, Silver is up $0.10 per ounce, trading at $22.88 on average volume.