Federal Reserve's Tightening Policies Bring Negative Reactions

GOLD

Over the long holiday weekend, Asian and European financial markets continue to react negatively to our Federal Reserve's recent, tightening policies. The U.S. Dollar Index hit a 20-year high of 110.50 and interest rates of the 10-Year Treasury reached a new high of 3.35%. Gold held above the $1,700 level, after reaching a high of $1,722 per ounce. At 11am PT today, Gold is trading at $1,702 per ounce, down $10 from Friday’s close on normal volume.

SILVER

Silver stayed above the key $18 per ounce level today as demand and premiums continue to show excellent strength today. At 11am PT today, Silver is up $0.08 per ounce, trading at $18.02 on average volume.