Gold Breaks Above $1,800 After U.S. Dollar Sell Off

GOLD

The U.S. Dollar Index sells off, interest rates start heading lower and Gold breaks above $1,800. I really feel that the Gold price should be done trading with $1,7 as the first two digits, but we need to wait and see for a few days. Gold demand continues to be strong with physical supplies of many of the popular bullion items are starting to improve. At 11am PT today, Gold is trading at $1,805 per ounce, up $13 on good volume.

SILVER

Silver moved higher with Gold this morning, reaching a high of $22.90 before seeing some light selling. I’m thinking if Gold can stay above $1,800 until Monday, Silver should move back above $23 per ounce. At 11am PT today, Silver is up $0.25 per ounce, trading at $22.87 on excellent volume.