US Dollar Index keeping Gold down
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GOLD
The stronger U.S. Dollar Index, which is now at the 95 level, is keeping Gold from moving higher. Gold investors and professional traders have focused their attention on news of ongoing immigration policy and a potential trade war with China. Plus, I am seeing sizeable accumulation of physical Gold by the ton, which I believe is Central Banks taking advantage of the low price. At 11am PDT today, Gold is trading at $1,272 per ounce, down $4 on excellent volume.
SILVER
Silver reached $16.22 per ounce in early Asian trading. Silver continues to stay below the important $16.50 level, which is very negative for the short-term direction. At 11am PDT today, Silver is down $0.04 per ounce, trading at $16.32 on good volume.
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