Gold and Silver Prices Reach Low on Strength of U.S. Dollar Before Rallying

GOLD

Gold reached a low of $1,818 this morning on a stronger U.S. Dollar amid increasing speculation that aggressive Federal Reserve interest rate hikes will continue in the face of rising inflation. Gold rallied back later in the session on excellent demand. At 11am PT today, Gold is trading at $1,844, unchanged on excellent volume.

SILVER

Silver followed Gold lower, reaching a low of $21.15, at that point there was massive bargain buying in India and across the Middle East. Silver quickly rallied higher, reaching a high of $21.86 per ounce. At 11am PT today, Silver is down $0.08 per ounce, trading at $21.72 on strong volume.