Unemployment Rate Hits 50 Year Low
There is a major seller (China?) in the U.S. Treasury markets, driving prices lower and rates higher. The 10-Year Treasury is up to 3.22%, highest in 7 years. The Labor department announced that the unemployment rate reached 3.7% in September, a 50 year low. The DJIA is down over 200 points and the U.S. Dollar Index is staying above 95. Gold continues to trade in a very narrow range between $1,197 and $1,206 per ounce. Great Article on our website, called "In Gold We Trust."
At 11am PDT today, Gold is trading at $1,202 per ounce, up $3 on normal volume.
Silver has rallied with Gold, reaching a high of $14.74 before seeing some light selling. At 11am PDT Today, Silver is up $0.06 per ounce, trading at $14.66 on average volume.