Nothing fruitful took place for the silver and GOLD PRICE today. True, they rose a little, but not enough to alter the downtrend. The GOLD PRICE rose 3.30 to $1,650 and silver rose 39.4c to 3219.9c.
The GOLD/SILVER RATIO gives us a feeling of where we are and where we are headed. It keeps see-sawing upwards. Oh, it fell today from 51.775 to 51.244, but three days ago its was at 50.626.
The GOLD PRICE reached a little higher today at 1661.65 than yesterday’s high at $1,657.80. Low came a little higher, too, at $1,647.08 against $1,641.90. Never mind, it’s still range-bound trading. Must break out upside through $1,670, or down at at $1,640. Till then, range-bound trading is just noise. Meanwhile, gold remains below its 50 DMA ($1,705.43), 150 DMA ($1,711.55), and 200 DMA ($1,681.82). Can’t argue that momentum points down.