Gold Shows Excellent Consolidation

GOLD

As the new administration comes in with executive orders and new members of the Biden’s Cabinet and new Democratic committee chairs in the Senate, things are up in the air. Today, Gold spent most of the day trading in a narrow range between $1,860 and $1,870 per ounce. Gold is showing excellent consolidation after the recent move over the $1,850 resistance level. At 11 am PT today, Gold is trading at $1,866 per ounce, up $1 on good volume.

SILVER

Silver hit a high of $26 this morning in early trading before seeing some light short-term profit-taking. Silver has shown better price support than Gold in this week’s rally. At 11 am PT today, Silver is up $0.10 per ounce, at $25.80 on good volume.