Gold is on the defensive

GOLD

A stronger U.S. Dollar and an up-tick in interest rates kept Gold on the defensive this morning. Gold hit a low of $1,243 before seeing strong buying, which drove the price back to the $1,250 per ounce area. Gold appears to be consolidating recent gains, while staying above the important $1,250 level. At 11am PDT today, Gold is trading at $1,251, up $1 on average volume.

SILVER

Silver followed Gold lower in early morning trading, reaching a low of $16.29 per ounce. Then bargain buyers became active and took the price back above $16.50 per ounce. At 11am PDT today, Silver is unchanged, trading at $16.51 on normal volume.