Increased Gold demand on U.S. news & weak Dollar
A combination of a weaker U.S. Dollar and Rex Tillerson, the U.S. Secretary of State, being fired has help increase Gold demand today. Buying started in Europe and rolled into the U.S. Markets, as the Gold price rose to a high of $1,328 per ounce. At 11am PST today, Gold is trading at $1,327 per ounce, up $5 on excellent volume.
Silver followed Gold higher this morning, reaching a high of $16.86 per ounce. $17 per ounce continues to be a major resistance level. At 11am PST today, Silver is unchanged, trading at $16.65 on normal volume.