Gold Trading In A Tight Range After Recent Decline

GOLD

Gold traded in a tight $10 High/Low range today, between $1,772 and $1,782 per ounce. With interest rates and the U.S. Dollar Index virtually unchanged the Gold price is just building a firm base after the recent decline. Physical demand is picking up for many of the popular investment products. At 11am PT today, Gold is trading at $1,780 per ounce, down $3 on average volume.

SILVER

Silver continues to trade above and below the key $26 per ounce resistance level today. I need to see Silver move back above the $26 level by weekend to stay short-term bullish. Many mints around the world are reporting shortages of Silver for many of their popular Silver mintages. At 11am PT today, Silver is trading at $25.94 per ounce, down $0.05 on normal volume.