Gold Locked In $5 High/Low Trading Range

GOLD

Today Gold was locked into a $5 high/low trading range, between $1,272 and $1,277 per ounce. Gold needs to break above the $1,280 level soon, or we may establish a new trading range between $1,260 to $1,280 per ounce. At 11am PT Today, Gold is trading at $1,275, down $1 on light pre-holiday volume.

SILVER

Silver continues to trade in a narrow range around the $15 per ounce level. Silver is waiting for direction from the Gold market. At 11am PT today, Silver is up $0.01 per ounce, trading at $15 on light volume.