Gold and Silver rally

GOLD

After reaching a low of $1,245.50 per ounce on Thursday, we saw a rally start in Asia and move through the Mid-Eastern and European markets. Gold opened in the U.S. above $1,250 per ounce and is trading actively above that level. The U.S. Dollar Index dropping below the 95 level was helpful in today’s Gold rally. Gold needs to start moving higher on Monday to confirm a turn in the price. At 11am PDT today, Gold is trading at $1,253 per ounce, up $4 on active volume.

SILVER

Silver has outperformed Gold today, rallying from a low of $15.78 to a high of $16.21 per ounce. Silver is firmly trading above the important $16.00 per ounce level. At 11am PDT today, Silver is up $0.14 per ounce, trading at $16.12 on active volume.