Crude Oil Price Leads Commodity Markets Lower

GOLD

This morning, the price of crude oil led the commodity markets lower. Gold also reacted to a spike up in the 10-year Treasury market (over 2.10%), ahead of an expected rise in interest rates by the Federal Reserve this coming Wednesday. At 11am PT today, Gold is at $1,961 per ounce, down $28 on heavy volume.

SILVER

This morning Silver moved lower with Gold, reaching and testing the key $25 per ounce support level. With Silver in the $25 area, I expect to see increased demand for physical Silver investment products. At 11am PT today, Silver is down $0.69 per ounce, trading at $25.24 on excellent volume.