Gold & Silver Holding In Trading Range On Consumption News

GOLD

The Fed’s favorite inflation measure, the personal consumption expenditures price index, was released and showed a 0.2% increase in April and a 2.8% increase from a year ago. This is in line with estimates. Gold actively traded on this news today between $2,332 and $2,360 per ounce in overnight trading.
After the consumption news Gold rallied. At 11am PT today, Gold is trading at $2327 per ounce, down $18 from yesterday.

SILVER

Silver reached a low of $30.72, breaking below the key $31 per ounce support level. Silver did rally on the fresh bargain buying in Europe and Asian markets.
At 11am PT today, Silver is trading at $30.34, down $0.93 from yesterday.