Gold Has A Larger Trading Range Heading Into The Weekend

GOLD

As we move into the weekend, many commodity traders clear their positions, causing a little more volatility. Gold had a larger trading range today, from $1,870 to $1,890 per ounce. Considering the recent Gold rally, this is good news, particularly in the face of a higher U.S. Dollar Index today. At 11am PT today, Gold is trading at $1,878 per ounce, down $3 on average volume.

SILVER

Like yesterday, Silver has been trading above and below the key $28 per ounce level, awaiting direction from Gold. Without any fresh inflation news Silver is firming up its recent $3 per ounce gain. At 11am PT today, Silver is down $0.45 per ounce, trading at $27.50 on average volume.