Gold Has Strength On A Strong Dollar

GOLD

A stronger U.S. dollar usually means a lower Gold price. That isn't happening today; for most of the U.S. market trading Gold is above the key $1,900 level with good demand. After reaching a low of $1,888 in Asian trading, Gold rallied back above $1,900 in late European trading and stayed there. Gold did see a high of $1,909 before dropping back a few dollars. No positive stimulus news isn’t helping, but I am delighted with Gold strength. At 11 am PT, Gold is trading at $1,906 per ounce, up $2 on average volume.

SILVER

Silver has had difficulty staying above the key $24 per ounce support level, but finally found buyers when Gold showed strength above $1,900. Silver did see a low of $23.57 and reached a high of $24.36 today. At 11 am PT today, Silver is down $0.10 per ounce, trading at $24.22 on normal volume.