A mild round of bargain hunting or bounce buying characterizes today's gold and silver trading. Put a big emphasis on mild.

Never mind the Russian tanks in Ukraine and the idle threats against NATA by the resurgent Russians. Never mind ISIS, beheadings, Somalia military actions, the deflation of Europe, the teetering of Venezuela.

Even without the Labor Day holiday this Monday in the U.S., Ukraine would be giving precious metals traders big problems. The key is that no one can decide whether it's a big problem or just a big headache.