Gold Breaks $1,750 Resistance Level

GOLD

Continued weakness in both the U.S. Dollar and interest rates has fueled increasing demand for Gold/Silver. This morning, on European markets Gold blew through the $1,750 per ounce resistance level and kept on going to a high of $1,759 before seeing light short-term profit taking. At 11am PT today, Gold is trading at $1,756 per ounce, up $15 on good volume.

SILVER

Silver tested the $25 per ounce support level this morning in Asian markets and held. When it rolled into European markets, Silver quickly rallied with Gold and reached a high of $25.70 before seeing light selling. At 11am PT today, Silver is up $0.35 per ounce, trading at $25.51 on excellent volume.