Gold's Pricing Future Relies on Powell's Testimony

GOLD

A bull/bear war in the Gold pits around the world is happening today and continues in U.S. markets. The Gold price has traded above and below the key $1,850 support level most of the trading sessions. Gold has reached a low of $1,847 and a high of $1,859. Traders are looking forward to Fed Chairman Jerome Powell’s testimony before the U.S. Senate on Tuesday and the House committee on Wednesday. What he says or indicates will dictate the short-term direction of the Gold price. At 11am PT today, Gold is trading at $1,848 per ounce, down, unchanged on good volume.

SILVER

Silver has behaved better then Gold, holding above the key $21 level during today’s trading. Silver reached a low of $21.02 and a high of $21.35 in precious metal markets around the world. At 11am PT today, Silver is down $0.05 per ounce, trading at $21.05 on excellent volume.