Silver Is On A Roll & Gold Stays Steady

GOLD

This morning the Gold price wasn’t affected by news of low inflation rates and consumer spending. Gold appears to be building a firm base between $1,520 to $1,550 per ounce. With the long holiday weekend ahead of us many traders are going home early, so trading volume will be low today. At 11am PT today, Gold is trading at $1,520 per ounce, down $8 on light volume.

SILVER

With today’s weakness in the Gold price, I was surprised to see Silver holding firm above the key $18 per ounce support level. It would be healthy for the Silver price to trade above the $18 for a bit, but Silver is on a roll and the bulls have control, so next week could be exciting. At 11am PT today, Silver is unchanged, trading at $18.20 per ounce on light volume.