Gold Trading In A Narrow Range As It Builds A Firm Base

GOLD

Gold is trading in a tight range today from $2,020 to $2,032 per ounce, as it continues to build a firm base. Investors were awaiting the minutes of the Federal Reserve’s last policy meeting, which are due out Wednesday. This will provide a good indication of the central bank’s thinking about future interest rate cuts. At 11am PT today, Gold is trading at $2,022, down $5 on average volume.

SILVER

Silver was trading above and below the key $23 level during Asian and European trading. Then when Silver trading opened in the U.S. it dropped below that key level. At 11am PT today, Silver is down $0.26 per ounce, trading at $22.80 on normal volume.