10-Year Treasury Rate Moves To 2.85%, Putting Hold On Gold Rally

GOLD

The 10-Year Treasury interest rate moved to 2.85%, which put a quick hold to this week’s Gold rally. In overnight trading, Gold moved down to $1,960 per ounce before finding serious buying. Hopefully, Gold will build a firm base between $1,950 and $1,990 for a short period before its next attempt at breaking the $2,000 level. At 11am PT today, Gold is trading at $1,971 per ounce, down $9 on average volume.

SILVER

Silver moved lower with Gold this morning, reaching a low of $25.24 before seeing bargain buyers. With yesterday’s rally, Silver moved up $1.00 this week, so some light profit taking is healthy for longer term. At 11am PT today, Silver is down $0.20 per ounce, trading at $25.60 on normal volume.