Gold And Silver Rally On Weak Dollar

GOLD

Gold and Silver prices have rallied today, with Gold soaring past the $3,375 resistance level to a 5-week high on a weaker dollar and a drop in U.S. Treasury yields. Both precious metals are experiencing a bullish market, though Gold has seemed to stop responding to geopolitical news in the volatile swings that rocked the markets earlier this year. It seems the Gold markets have been desensitized to the current geo-political struggles and Economist say that Gold will need an outside force to start another rally. As we move into August, the U.S. dollar is expected to come under pressure according to reports recently released.

At 11 am PT today, Gold is trading at $3,429, up $35 from Monday.

SILVER

Silver has also seen a jump in its price this morning as the U,S, dollar index fades and industrial demand for the white metal continues to increase. Silver Prices are moderately higher today, with the metal hitting an almost 14-year high after maintaining gains for 5 consecutive days.

At 11 am PT today, Silver is up $0.17 and is trading at $39.19.