Macro Forces Outweigh Geopolitics As Gold Drops $500

GOLD

While I was watching Gold trade last night and early this morning in Australia, China, India, and London, the price traded between $4,098 and $4,535.
As Gold trading reached the U.S., Gold was trading at the $4,400 per ounce level.
This trading range is extraordinary, and I see it as Gold bottoming out.

At 11 am PT today, Gold is trading at $4,415 per ounce, down $80 from last Friday

SILVER

Silver reached a low last night in overseas trading at $60.89, an incredible drop, but rallied back in London and the U.S. with strong buying.
If Silver can move back above the $70 level, it would be healthy for the market.

At 11 am PT today, Silver is trading at $69.35 per ounce, up $1.10 from last Friday