GOLD

A combination of a weaker U.S. Dollar and weekend short covering has caused Gold to rally $5. Physical demand for Gold investment products is picking up dramatically in the face of the current low price and increasing geopolitical risks. At 11am PDT today, Gold is trading at $1,228 per ounce, up $4 on good volume.

SILVER

Silver has followed Gold higher this morning, testing the $16.50 per ounce level. I believe Silver is building a new trading range between $16.35 and $16.50 per ounce, after its recent decline. At 11am PDT today, Silver is up $0.12 per ounce, trading at $16.40 on average volume.