Gold Trades In Narrow Range While Silver Shows Price Support

GOLD

Gold continues to trade in a very narrow range, today from $1,239 to $1,247 per ounce. Considering that the U.S. Dollar Index and interest rates remain virtually unchanged, I think that Gold building a firm base is bullish. At 11am PT today, Gold is trading at $1,243 per ounce, down $2 on normal volume.

SILVER

Silver is surprisingly showing more price support than Gold today. Silver again reached a high of $14.80 today, before seeing some light short-term profit taking. At 11am PT today, Silver is trading at $14.75, up $.02 per ounce on good volume.