More Range-bound Trading in Precious Metals (GLD) (SLV)
- Wall Street up as Yellen eases concerns about economy
- Unusual 11 Mid-Day Movers 2/10: (ELMD) (LLNW) (OSTK) Higher; (MSTX) (OESX) (KS) Lower
- EIA Data Shows Crude Inventory Declined Unexpectedly Last Week
- Yellen Semiannual Testimony to Congress: Economy to Warrant Only Gradual Rate Increases
- Time Warner (TWX) Tops Q4 EPS by 5c; Approves $5B Common Stock Buyback Plan
SPDR Gold Shares ETF (NYSE: GLD) and iShares Silver Trust (NYSE: SLV) are both trading lower intraday on Thursday. Precious metals markets turned south yesterday following the Fed policy announcement, and they continued lower today in the wake of the ECB announcement today. Spot gold has traded in a very tight range since early June, with $1630 per ounce keeping a lid on any advance and buying interest near $1550 per ounce. Silver has a similar trading range between $28.50 and $26 per ounce.
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