Gold Approaching Key $1,250 Per Ounce Resistance Level

GOLD

A weaker U.S. Dollar index, a declining equity market, and lower interest rates equal higher Gold prices. A disappointing November unemployment number of 3.7% also added to the positive precious metal environment. Gold is approaching the key $1,250 per ounce resistance level. At 11am PT today, Gold is trading at $1,247, up $8 per ounce on excellent volume.

SILVER

Silver finally woke up this morning, reaching a high of $14.60 per ounce. Then Silver settled back to trade above the $14.50 support level. $14.50 has proven to be a difficult level for Silver to stay above. With the continued strength from the Gold price I would expect to see a stronger Silver price. At 11am PT today, Silver is up $0.14 per ounce, trading at $14.58 on good volume.