Gold Showing Better Demand

GOLD

With the U.S. Dollar Index and interest rates basically in a holding range, Gold is starting to show better demand. For the most part of overnight and U.S. trading, Gold has stayed above $1,805 per ounce. I believe we should see Gold trade in a tight trading range between $1,800 and $1,820 per ounce for a short period of time, then quickly move higher. At 11am PT today, Gold is trading at $1,810 per ounce, up $10 on good volume.

SILVER

As Gold rallied, Silver picked up demand and broke back above the key $26 level. Silver did reach a high of $26.29 before seeing short-term profit taking. At 11am PT today, Silver is up $0.20 per ounce, trading at $26.16 on normal volume.