Silver Plays Follow The Leader

GOLD

After watching a highly volatile Gold price continually test its support levels recently, it was nice to see Gold trade in a tight trading range, above support, today. During the last 15 hours, Gold has traded between $1,883 and $1,893 per ounce, as it prepares for a move back above $1,900. I believe the slight decrease in the value of the U.S. Dollar Index is helping Gold stabilize just below the key $1,900 level. At 11 am PT today, Gold is trading at $1,886, down $3 on average volume.

SILVER

Silver has also traded in a tight range between $24.40 and $24.80 per ounce. Gold is still the leader, when Gold moves back above the key $1,900 per ounce, Silver should break above the key $25 level. At 11 am PT today, Silver is down $0.10, trading at $24.60 per ounce on normal volume.