Gold And Silver Stuck In A Holding Pattern

The SPDR Gold Shares (NYSEARCA:GLD) and the iShares Silver Trust (NYSEARCA:SLV) are both trading slightly lower this morning. These two precious metals will usually trade inverse to the U.S. Dollar, therefore, traders should follow the dollar closely. Short term traders can watch for intra-day support on the GLD around the $167.00, and $166.00 levels. The SLV will have intra-day support around the $32.25, and $31.80 levels.

Some other ways to trade the gold and silver markets are to use the Sprott Physical Gold Trust (NYSEARCA:PHYS),Sprott Physical Silver Trust ETV (NYSEARCA:PSLV), and the iShares Gold Trust ETF (NYSEARCA:IAU). All of these trading vehicles trade in a very similar fashion.

Nicholas Santiago
InTheMoneyStocks.com