Gold Setting All-Time Record Daily – Near $2,200

GOLD

Gold is trading today in a very tight $10 high/low supportive range. It has traded between $2,175 and $2,185, which is very positive for the short and long-term direction of the price. The U.S. consumer price index is scheduled for release Tuesday with March data. The Federal Reserve closely tracks both labor market and inflation data when determining monetary policy. At 11am PT today, Gold is trading at $2,180 per ounce, up $1 on good volume.

SILVER

Silver has traded well above the $24 per ounce level today. Silver did reach a high of $24.59 before seeing some light profit-taking. Firmly moving above $24.50 and staying there for a few trading days would set an excellent base for a rally to $25, a long term resistance level. At 11am PT today, Silver is up $0.12 per ounce, at $24.44 on excellent volume.