Gold and Silver In Play Today

This morning, the major stock market indexes are all coming under pressure for the fifth consecutive week. Most leading stocks and commodities are trading lower this morning, however, precious metals are showing some very strong intra-day strength. Gold and silver are both trading higher on the trading session.

The SPDR Gold Shares (NYSE:GLD) are trading higher by 0.97 cents to $151.18 a share. There is some short term intra-day resistance for the GLD around the $151.50 area. Should the GLD trade higher the next intra-day resistance level will be around the $152.50 level.

The iShares Silver Trust (NYSE:SLV) is surging higher by 0.91 cents to $36.26 a share. There will be some minor intra-day resistance around the $36.35 area. Should the SLV trade through this resistance point the $37.00 area would be the next important resistance level on the intra-day charts.

Traders should remember that there are many problems going on around the world at this time. The precious metals are usually bought in times of uncertainty. They will often also trade higher if the U.S. Dollar Index declines or trades lower.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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