Both Gold & Silver Moving Higher Toward Key Levels

GOLD

U.S. Interest rates (10-Year Treasury) is currently trading at a 2-month low, under 4.28%. Lower interest rates, combined with a weaker U.S. Dollar, is driving Gold higher. This morning when interest rates and the Dollar were at their lows, the Gold price reached $2,050 per ounce. Traders are looking forward to the Personal Consumption Expenditures Price Index, the Fed’s favorite inflation report, which is due out tomorrow for future market direction. At 11am PT today, Gold is up $10 per ounce, trading at $2,047 on excellent volume.

SILVER

Silver broke above the key $25 per ounce resistance level. Silver reached a high of $25.36 per ounce before seeing some light selling. Holding above $25 per ounce for at least a week would be healthy for the short term. At 11am PT today, Silver is $25.10 per ounce, up $0.10 on good volume.