Gold Building Base For Next Rally

GOLD

This morning, it was reported that the March U.S. consumer price index rose by the most in more than 8 ½ years. That caused the U.S. Dollar Index to drop below 92, and the price of Gold to reach $1,750 per ounce. If Gold can break above the key $1,750 per ounce resistance, it would be the third time in the past week, and hopefully build a base for the next rally. At 11am PT today, Gold is trading at $1,745 per ounce, up $12 on good volume.

SILVER

Silver moved up with Gold on the U.S. consumer price news, as inflation is more bullish for the Silver price than Gold. At 11am PT today, Silver is up $0.45 per ounce, trading at $25.35 on excellent volume.