Silver Follows Gold Again

GOLD

Clearly, a good chance of having a $908 billion stimulus bill out of Congress outweighs a stronger U.S. dollar when it comes to the price of Gold. The Gold price is doing exactly what I was hoping to see this week, actively trading in the $1,850 to $1,900 range, building a firm base for the next leg higher. At 11 am PT today, Gold is up another $10 per ounce, trading at $1,871 on excellent volume.

SILVER

The Silver price followed Gold again today, reaching a low of $24.38 and then rallying to a high of $24.94 per ounce. As Gold approaches the important $1,900 resistance level, I would expect to see Silver break above the key $25 level. At 11 am PT today, Silver is up $0.10 per ounce, trading at $24.66 on normal volume.