Silver Needs Support To Breakout

GOLD

Gold has traded in a tight range between $1,710 and $1,725 per ounce today, as it builds a base above the $1,700 resistance level. The market is awaiting direction form Fed Chairman Powell, who will be talking today around 11am PT. Gold is trading at $1,715 per ounce at 11am PT, unchanged from yesterday on average volume.

SILVER

Silver is mirroring Gold today, with a little more volatility, testing the $18 level and falling back. Silver appears to need a little more support to breakout above $18 per ounce. At 11am PT Today, Silver is trading at $17.65 per ounce, down $0.03 on normal volume.