Commodity Shortages & Inflation Are Outweighing Higher Interest Rates

GOLD

The U.S. Dollar Index (over 100) and interest rates continue to move higher, but concerns about commodity shortages and inflation are outweighing that feeling. Gold rallied today, moving back over $1,950 per ounce and reaching a high of $1,970 on fresh buying. Profit taking hit the U.S. Market in early trading, driving the Gold price down to $1,940 before finding bargain buying. At 11am PT today, Gold is trading at $1,948, up $5 on excellent volume.

SILVER

Silver moved back over $25 as Gold led the precious metal markets higher. Demand remains high and premiums on the popular physical Silver investment items remain strong. At 11am PT today, Silver is trading at $24.88 per ounce, up $0.14 on average volume.