U.S. Dollar rally and interest rates causing lower Gold price

GOLD

A rally in the U.S. Dollar and interest rates has caused a lower Gold price today. Gold should have good support above $1,330 per ounce. Gold reached a low of $1,337.30 this morning before bargain buyers became aggressive. At 11am PST today, Gold is trading at $1,343 per ounce, down $10 on active volume.

SILVER

Silver could test its $17 per ounce support level this week if Gold stays at the lower end of its trading range. Silver reached a low of $17.08 this morning before major buyers appeared. At 11am PST today, Silver is down $0.22 per ounce, trading at $17.22 on excellent volume.