Gold Driving Higher Due To Weaker U.S. Dollar Index

GOLD

After testing the key $1,950 resistance level yesterday, reaching a low of $1,944 per ounce, before rallying back above $1,950, Gold is off and running today. A weaker U.S. Dollar Index and fresh buying has driven Gold higher today, reaching $1,975 before seeing some light selling. It would be very healthy for the long-term Gold price for it to build a nice base between $1,950 and $2,000 per ounce. At 11am PT today, Gold is trading at $1,971 per ounce, up $14 on excellent volume.

SILVER

Silver has been showing more demand and price support then Gold recently. When Gold breaks above $2,000, Silver should move above $24 per ounce. At 11am PT today, Silver is up $0.22 per ounce, trading at $23.31 on excellent volume.