10-Year U.S. Interest Rates Spike To 2 Year High

GOLD

In overnight trading Gold broke below the key $1,800 support level, reaching a low of $1,787 on heavy selling. This sell-off occurred when 10-year U.S. interest rates spiked to 2 year high, over 1.84%. As the Gold market rolled into the U.K and U.S., buyers appeared and took the price back above $1,800 level. At 11am PT today, Gold is down $4 per ounce, trading at $1,809 on firm volume.

SILVER

When Gold broke down below $1,800, Silver quickly sold-off, reaching a low of $21.97. The same price recovery happened with Silver, moving back above $22 as the day rolled on. At 11am PT today, Silver is trading at $22.52 per ounce, down $0.32 on good volume.