Stronger U.S. Dollar And Spike In Interest Rates Caused Gold To Rally

GOLD

In the face of a stronger U.S. Dollar and a spike up in interest rates (U.S. 10-year note hitting 3.05%), Gold rallied today. Gold moved back above the key $1,200 per ounce resistance/support level. The Gold price reached a high of $1,206.50 before seeing short-term profit taking. At 11am PDT today, Gold is trading at $1,203, up $5 on good volume.

SILVER

Silver moved higher this morning with Gold, reaching a high of $14.36 per ounce before seeing sellers appear. Silver needs to move above $14.50 per ounce to become short-term bullish in the eyes of professional traders. At 11am PDT today, Silver is up $0.09 per ounce, trading at $14.25 on average volume.