Slight Gold Sell Off After June's Personal Consumption Expenditure Indicator Release

GOLD

Gold sold off a little today, from yesterday’s high of $1,835 on lower than expected news from June’s Personal Consumption Expenditure Indicator released today. The Inflation Indicator rose only 3.5%, below expectations. At 11am PT today, Gold is trading at $1,817.85 per ounce, down $16.93 on average volume.

SILVER

For the most part of today’s trading, Silver has stayed above $25.50 per ounce. After the recent move from a low of $24.60 per ounce, Silver is showing excellent consolidation above the key $25 level. At 11am PT today, Silver is down $0.16 per ounce, trading at $25.59 on normal volume.