Gold’s Consolidation Healthy For Next Move

GOLD

Gold has traded today between $1,932 and $1,957 per ounce. This morning's decline came from a stronger dollar and good U.S. retail sales numbers. Gold’s consolidation is very healthy for the next move to $2,000. This week as confirmed to me, that the only direction for the Gold price is higher. At 11am PT today, Gold is trading at $1,942 per ounce, down $18 on good volume.

SILVER

After yesterday’s $1.55 rally in the Silver price, we saw some weekend profit taking today. Silver did sell off in the morning, reaching a low of $25.68 per ounce before finding bargain buyers. At 11am PT today, Silver is trading at $26.30 per ounce, down $1.10 on average volume.