February's Producer Price Index Keeps Gold on Right Track

GOLD

In early trading we saw the U.S. 10-Year Treasuries reached a high of 1.63% and the U.S. Dollar Index hit 91.94, which caused the price of Gold to decline, testing the $1,700 resistance level. Then, February’s U.S. Producer Price Index (PPI) numbers were released when U.S. markets opened, that rose only 0.5%, which was well below what the economists had forecasted. The Gold price quickly rallied back above the $1,715 range and is trading actively. At 11am PT today, Gold is trading at $1,724 per ounce, down $3 on active volume.

SILVER

Silver followed Gold lower in early trading, reaching a low of $25.35 per ounce. When the PPI numbers came in, Silver rallied with Gold and is near the $26 level on fresh buying. At 11am PT today, Silver is down $0.20 per ounce, trading at $25.95 on excellent volume.