Gold Is Consolidating Above The Key $3,000 Level

GOLD

What we are seeing in Gold price trading is an excellent example of consolidation and base building. Gold has traded between $3,003 and $3,037 since the start of this week. Consolidation and base building is very bullish for both the short and long-term direction of the Gold price. I still feel that Gold will move closer to $3,100 level after the U.S. tariffs we made clear.

At 11am PT today, Gold is trading at $3,017 per ounce, down $7 on average volume.

SILVER

Silver is showing more price strength than Gold, moving towards the $34 level on excellent trading volume.

At 11am PT today, Silver is up $0.07 per ounce, trading at $33.67 on excellent volume.