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The gold and silver markets traded last week into a sideways pattern with little change. Gold closed at $1576, up about $5 in the morning session. Silver closed at $17.70. There was a flurry of buyers after the 10:30 am Pacific Standard Time close that drove the market to close at $1586.90, up about 50 cents.
With regards to some of the activity on the COMEX gold options, gold was trading in a strong market when it looked like technically it was going to take out the highs. The volume expanded to 104,354 options compared