Gold Prices Standing Still

New York (Feb 27)  Like a stopped clock, gold and silver have stopped moving. The daily ranges have become tighter, volume has fallen off and it appears that there is no interest in the metals.

This is the type of action which can be described as the dawn before the storm. The current trade indicates a big move is coming. Based on the information we have at our fingertips, that move should be higher. There are no guarantees that the metals go higher; however, the probability suggests that they will.

If you remember one thing about all markets, nothing is 100% guaranteed and the only thing we can do is use the information we have. Gold and silver have held support. Based on what we can see now, we are bullish. For now, only a close below $1,320 would cause us to re-evaluate or position.

KitcoNews