Gold gets a little pressure from bear market rally

GOLD

A bear market rally in the U.S. Dollar has added a little pressure on the Gold price today. Gold has traded between $1,334 and $1,348 per ounce for most of the day. I like the fact that with the Dollar and interest rates higher, Gold is continuing to consolidate in the $1,330 to $1,350 trading range. At 11am PDT today, Gold is trading at $1,338 per ounce, down $5 on active volume.

SILVER

Silver hit a low this morning of $17.05 before seeing an uptick. The $17 per ounce support level is important for Silver to continue a bullish short-term direction. At 11am PDT today, Silver is down $0.08 per ounce, trading at $17.14 on normal volume.