Gold Set To Move Aggressively Toward $1,500 Resistance Level

GOLD

The Gold price has been consolidating in the $1,470 level for the past few days, and now appears ready to start moving higher. Physical and contract demand is increasing worldwide and an aggressive move to the $1,500 is on the immediate horizon. At 11am PT today, Gold is up $3 per ounce, trading at $1,475 per ounce on good volume.

SILVER

Silver has firmly broken above the key $17 per ounce resistance/support level today. Demand looks good and we are looking forward to seeing Silver reach the $17.40 level or above as Gold moves towards the $1,500 price level. An excellent indicator for a higher Silver price is the recent rally in Silver mining and ETF stocks. At 11am PT today, Silver is trading at $17.17 per ounce, up $0.12 on excellent volume.