Gold and Silver Breaking Above Recent Trading Ranges

GOLD

In the face of the higher U.S. interest rates in over 16 years, Gold has found increasing demand, which is driving the value higher. A small break in the value of the U.S. Dollar Index combined with the Federal Reserve not raising the Fed Funds rate today is helping rally the Gold price. Gold is back on the road to $1,950 and $2,000 per ounce. At 11:10 PT today, Gold is trading at $1,942 per ounce, up $12 on good volume.

SILVER

Silver led Gold higher this morning, moving above the $23.40 level on excellent demand in Asia and again in European trading. At 11:10 am PT today, Silver is up $0.21 per ounce, at $23.40 on normal volume.