Gold & Silver Are Consolidating Recent Gains

GOLD

Gold traded today between $2,360 and $2,400 per ounce as it consolidates recent gains. This is very healthy for both the short and long-term pictures. Building a firm base before breaking above the $2,400 resistance level is a good sign for a continued move higher.

At 11am PT today, Gold is trading at $2,385 per ounce, up $20 on average volume.

SILVER

Silver is testing both support and resistance levels as it trades between $27.91 and $28.92 today. Staying above the $28 level is a good sign of major support.

At 11am PT today, Silver is trading at $28.25 per ounce, down $0.40 on average volume.