Strong Overnight Buying Drives Gold Above Resistance Level

GOLD

Strong overnight buying for Gold in Asian markets drove the price of Gold briefly above the major resistance level of $1,275 per ounce. U.S. 10-Year Treasury yield dropping to 2.74%, the lowest level since April 2018, was helpful to the rally. At 11am PDT today, Gold is up $14 from last Friday, trading at $1,270 per ounce on excellent volume.

SILVER

Silver exploded above the key $15 per ounce resistance level. Silver finally made the long-awaited breakout, reaching a high this morning of $15.15, up a whopping $0.40 per ounce. At 11am PDT today, Silver is trading at $15.03, up $0.33 from last Friday on excellent volume.