A Strong U.S. Dollar Continues To Hold Gold Down

GOLD

A strong U.S. Dollar (above 94) drives the Gold price down, briefly breaking the $1,765 support level. Excellent demand has provided good support to trade within the current trading area of $1,765 and $1,780 per ounce. At 11am PT today, Gold traded at $1,771 per ounce, unchanged from Friday on active buying.

SILVER

Silver sold off with Gold, testing the $23 support level, by reaching a low of $22.98 per ounce. Bargain buyers appeared at today’s lows, quickly driving up the price by $0.20 per ounce. At 11am PT today, Silver is down $0.06, trading at $23.36 per ounce on good volume.