Strong Silver Price Steals The Spotlight

GOLD

Gold isn’t the precious metal star today, its Silver. Gold has been trading in a tight $15 high/low range from $1,405 to $1,420 per ounce all day. At 11am PT today, Gold is down $5 per ounce, trading at $1,408 on average volume.

SILVER

Silver broke above the key $15.50 resistance level this morning, and many of the traders with short-sales covered their futures positions. This caused the Silver price to quickly move to $15.67 on excellent trade volume. If the price can stay above $15.50 for a couple days, Silver could be back on a bullish track. At 11am PT today, Silver is trading at $15.62 per ounce, up $0.28 on excellent volume.