Strong USD puts pressure on precious metals

GOLD

The U.S. Dollar Index is rallying today, trading around the 95.00 resistance level. A strong U.S. currency continues to put pressure on precious metal prices. Asian and Indian Gold buyers are picking up demand this week. At 11am PST today, Gold is down $5, trading at $1,276 per ounce on normal volume.

SILVER

Silver continues to have a difficult time remaining above the key $17 per ounce resistance/support level. Silver hit a high of $17.23 before profit taking and short-sellers hit the market price. At 11am PST today, Silver is trading at $16.92 per ounce, down $0.28 on normal volume.