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Gold Tracks Back To Trading Range

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Gold Tracks Back To Trading Range

Gold is gradually drifting back to its previous trading range between $1,620 and $1,640, even in defiance of the U.S. dollar losing ground to the euro.

Prices for gold were down $4.26 to $1,662.62 in early trading and silver was off $0.23 to $30.83, raising the silver/gold ratio to 53.9, the highest reading in months.

There isn’t any news that should be driving buying or selling right at the moment and the markets are basically drifting sideways on soft demand. Silver has been in a soft patch since the fall of last year, with prices...