Gold Looks To Breakout Next Week

GOLD

For the most part of today’s trading, Gold is holding in a narrow $15 high/low range between $1,710 and $1,725 per ounce, as it continues to build a great base. I look for Gold to breakout and move above $1,750 per ounce next week. At 11am PT today, Gold is down $8 per ounce, trading at $1719 on average volume.

SILVER

Silver reached a high this morning of $15.92 per ounce this morning. Because of the lack luster trading in Gold, Silver couldn’t hold that level and sold off, but it should look better next week. At 11am PT today, Silver is trading at $15.55 per ounce, up $0.07 on good volume.