Gold Trading In Narrow $6 High/Low Range

GOLD

After testing the $1,280 support level yesterday, Gold has traded today in a narrow $6 High/Low range between $1,280 and $1,286 per ounce. I still continue to believe Gold will break above the key $1,300 per ounce level by month end. At 11am PT today, Gold is trading at $1,285 per ounce, unchanged from yesterday on normal volume.

SILVER

Silver found bargain buyer this morning after reaching $15.22 per ounce in Asian markets. Silver needs to move back above the $15.50 level to regain a bullish sentiment. At 11am PT today, Silver is up $0.03, trading at $15.37 per ounce on average volume.