10-Year Treasury Reached 3.19%, Highest Since 2011
Based on a strong economy and the Federal Reserve planning to raise interest rates in December, the 10-Year Treasury reached 3.19%, the highest since 2011. The U.S. stock market took a nose drive, DJIA is down 340 points, and Gold found support around the $1,200 per ounce level. At 11am PDT today, Gold is down $2 per ounce, trading at $1,199 on average volume.
Silver continues to find price support in the $14.50 area, while seeing professional short-selling above $14.80 per ounce. Silver, like Gold, is locked into a trading range, waiting for news to give it a direction. At 11am PDT Today, Silver is trading at $14.60 per ounce, down $0.08 on normal volume.