Market Report: A week of consolidation

Gold and silver consolidated recent rises this week. On closing prices, gold barely moved from last Friday’s close, standing at $1269.50 in early European trade this morning. Intraday, prices were range-bound, capped in the low $1270s and underwritten in the low $1260s. The bias seems to be one of trying to break out, in which case an assault on the $1290-1300 level is in prospect.

This post was published at GoldMoney on August 04, 2017.