Gold is Strong Demand, Causing U.S. Dollar To Weaken

GOLD

It’s been over a month since Gold has traded over $1,700, and during that time Gold hit a low of $1,615 per ounce. This morning Gold, based on strong demand and a weaker U.S. Dollar, has rallied from a low of $1,665 to $1,719 with excellent trading volume. I like what I saw in European trading and want to see Gold stay above $1,700 for the balance of the week. At 11am PT today, Gold is trading at $1,710, up $34 on excellent volume.

SILVER

Silver followed Gold higher this morning, reaching a high of $21.73 before seeing short-term profit taking. Supplies of physical Silver continue to be low and demand is increasing. At 11am PT today, Silver is up $0.48 per ounce, trading at $21.30 on strong volume.