Gold opened higher this morning

GOLD

Gold opened higher this morning on a softer U.S. Dollar and a small decline in interest rates. Two Ex-Trump Campaign officials, Paul Manafort and Rick Gates surrendered to the Justice Department today after being indicted by special counsel Mueller’s investigation. This signals a dramatic new phase of Mueller’s wide-ranging investigation. This investigation could directly affect republican support for any tax reform legislation this year. If it appears that the tax reform bill isn’t going to receive enough support for passage, precious metal should rally. At 11am PDT today, Gold is trading at $1,277 per ounce, up $6 on average volume.

SILVER

After reaching a low of $16.66 this morning, Silver is up a couple cents this with average trading volume. Silver rallied in late trading, reaching a high of $16.90, but $17 is still a firm resistance level. At 11am PDT today, Silver is up $0.07 per ounce, trading at $16.84 on normal volume.