Perfect Storm Of Bearish Precious Metal News
Today, we saw the perfect storm of bearish precious metal news. A strong world equity market, a higher U.S. Dollar, and interest rates. So, Gold has traded lower today, reaching a low of $1,212 before serious buying appeared. At 11am PDT today, Gold is trading at $1,214.50 per ounce, down $8.50 on good volume.
Silver reached a surprise low of $14.22 per ounce in early trading, then briefly rallied above the $14.50 level. At 11am PDT today, Silver is down $0.17 per ounce, trading at $14.28 on average volume.