Gold Makes 2nd Attempt To Break $1300 Resistance
Gold took its 2nd attempt to break above the key $1,300 per ounce resistance level this morning. After reaching a high of $1,298, Gold saw some short-term profit taking. It normally takes at least three attempts to be successful on moving above a major resistance level.. At 11am PT today, Gold is trading at $1,289 per ounce, down $3 on average volume.
Silver had a difficult time staying above the $15.70 per ounce level this morning. Trader sentiment has turned from bullish to neutral and demand has diminished. At 11am PT Today, Silver Is trading down $0.14, at $15.61 per ounce on normal volume.