Gold Trading In An Accumulation Phase

GOLD

It is getting ridiculous, Gold traded today in a $5 range between a high and low price of $1,273 to $1,278. Gold currently has no direction and is definitely in an accumulation phase. The Gold traders will continue to focus on geopolitical events (especially Brexit), and developments with the Trump Administration’s China trade progress. At 11am PT today, Gold is trading at $1,275 per ounce, up $0.50 on average volume.

SILVER

Silver is following Gold’s lead with a tight trading range. Silver did test support in Asian overnight trading reaching a low of $14.32 per ounce. At 11am PT today, Silver is up $0.02 per ounce, trading at $14.46 on normal volume.