Gold & Silver Testing Support Levels

GOLD

Gold entrenched in a tight range early Friday, up-ticking on this morning’s inflation data, but headed for a second weekly drop. An important inflation gauge released Friday showed that the rate of price increases cooled as 2023 came to a close, bolstering hopes for Federal Reserve Interest rate cuts. The Fed’s favorite inflation measure, the personal consumption expenditures price index for December, increased 0.2% on the month and was up 2.9% on a yearly basis, per the Commerce Department’s report released this morning. At 11am PT today, Gold is trading at $2,021 per ounce, up $4.

SILVER

Silver is struggling to pass the $23 dollar ledge today during trading. Silver continues to be a bullish trend since the beginning of the year, we expect to keep seeing this in the future. At 11am PT today, Silver is trading at $22.86 per ounce, down $0.03.