Gold On The Verge Of A Major Move Tomorrow

GOLD

Gold traded today between $2,457 and $2,477 per ounce, firmly staying above the key $2,450 level. The Gold value is waiting for news, whether it be the war between Iran and Israel or tomorrow’s July CPI numbers. Based on that news we could easily see the Gold price explode over the $2,500 level or test the $2,400 support level.

At 11am PT today, Gold is up $1 per ounce, trading at $2,469 on normal volume

SILVER

Silver is showing more price weakness then Gold. Silver badly needs to move back above the important $28 price level to regain trader confidence in the short and long-term value.

At 11am PT today, Silver is trading at $27.74 per ounce, down $0,19 on the day.