Gold Has Been Moving Higher

GOLD

After a strong close on Friday, Gold has been moving higher since the open of trading. Concerns about January inflation numbers has driven down the U.S. Dollar Index below 95.50 as Gold demand heats up. In late U.S. trading Gold continued to rally, reaching a high of $1,822 before seeing some light selling. At 11am PT today, Gold is trading at $1,821 per ounce, up $13 on strong demand.

SILVER

Silver took the precious metal lead today, showing fresh buying and briefly moving above the key $23 per ounce resistance level in early trading. Commodity traders are anticipating strong January inflation data, which is scheduled to be released this coming Thursday. Silver lead gold higher in late U.S. trading moving above the key $23 resistance level. At 11am PT today, Silver is up $0.55 per ounce, trading at $23.05 on excellent volume.