Daily Market Report 4/6/17

GOLD

Gold has traded in a narrow $10 high/low range today, mostly above the key $1,250 per ounce support level. Gold is in a consolidation mode, firmly establishing the $1,250 per ounce level as a base. This is very good for the next leg higher, which I believe will test the $1,300 level by month’s end. At 11am PDT today, Gold is trading at $1,252 per ounce, up $4 on average volume.

SILVER

Silver is following Gold’s lead, firmly building a base above the $18 support level. Physical trading volume around the globe is surprisingly strong. At 11am PDT today, Silver is up $0.05, trading at $18.26 per ounce on good volume.