Morning Snapshot: Gold and Silver Firmer Within Recent Ranges

USAGOLD/Peter Grant/11-08-17

Gold is higher in early U.S. trading, probing the high end of the range within the range within the range. That first tier of resistance is marked by last week’s high at 1284.20. Above that, 1306.04 and 1357.50 define the high ends of the broader ranges. The low end of the ranges are well defined at 1263.00/1260.10

Silver is higher, trading just above $17. Resistances to watch are at 17.26 and 17.47. The latter is likely a trigger for a push back above $18.

Today’s calendar is very light with only EIA crude data from last week. There is a $23 bln 10-year note auction as well.

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