Gold Trading Has Been Quiet Today

GOLD

Recently, watching Gold trade is like watching grass grow, not much excitement. Without direction from any economic reports, change in the U.S. Dollar Index or interest rates, trading is quiet. Considering that in past years August has been a key month, I look for something to happen soon. At 11am PT today, Gold is trading at $1,813, down $1 on average volume.

SILVER

Silver did break the key $26 level, hitting $26.13 per ounce, on heavy Asian and European buying earlier today. Silver quickly sold off, reaching support in the $25.50 range. At 11am PT today, Silver is trading at $25.47, down $0.17 on good volume.