Narrow Trading Range Helps the Metals Begin To Build Strong Bases

GOLD

Gold is trading in a narrow $10 high/low range between $1,768 and $1,778 per ounce. This is very healthy for the future direction for the price, as Gold builds a firm base after its recently sharp increase. At 11am PT today, Gold is trading at $1,770 per ounce, unchanged for the day.

SILVER

Silver is showing a little more price weakness than Gold, testing its key $22 per ounce support level. Silver also is trading in a narrow range, building a strong base. At 11am PT today, Silver is down $0.12 per ounce, trading at $22.13 on average volume.