Weaker USD helps Gold move higher

GOLD

Finally, a weaker U.S. Dollar has helped the Gold price move back above the $1,280 per ounce level today. If the price can rally above the $1,300 long-term resistance level soon, that will be the start of my year-end rally. At 11am PST today, Gold is trading at $1,282 per ounce, up $3 on normal volume.

SILVER

After testing support this morning at $16.83 per ounce, Silver has moved back above the key $17 level. Silver found some professional trader short-selling when it moved above $17.10 per ounce, but held above $17. At 11am PST today, Silver is up $0.04 per ounce, trading at $17.07 on average volume.