Gold & Silver Continues Building A Base

GOLD

Gold traded this morning between $2,643 and $2,666 per ounce as it continues to build a firm base around the key $2,650 per ounce support level. A strong U.S. Dollar (Index above 107) kept Gold from breaking out. Everyone is waiting to see this week’s U.S. economic reports.

At 11am PT today, the Gold price is $2,656, up $1 on average volume.

SILVER

Silver traded today between $30.41 and $30.81 per ounce, awaiting direction from the Gold price. Silver needs to move above $31 per ounce to stay short-term bullish.

At 11am PT today, Silver is up $0.07 per ounce, trading at $30.62 on normal volume.