Both Gold & Silver Move Higher On Excellent Volume

GOLD

Interest rates continue to drop (10-Year under 4.35%), and the U.S. Dollar Index broke below 103 this morning. Both of these factors helped Gold move to $2,043 before seeing light short-term profit taking. Hopefully, Gold will stay in the $2,000 to $2,050 trading range for a few weeks, building a firm base before the next leg higher. At 11am PT today, Gold is trading at $2,037 per ounce, up $25 on excellent volume.

SILVER

Silver moved higher with Gold this morning, reaching a high of $25.08 before seeing selling. If Silver can stay above $25 for the balance of the week that would be great. At 11am PT today, Silver is up $0.36 per ounce, trading at $25 on good volume.