Gold Moves Higher After U.S. Dollar Index Falls Below 96

GOLD

With the U.S. Dollar Index dropping below 96, and 10-year Interest rates moving under 1.75%, Gold had nowhere to go but higher. After last night’s attempt to break Gold’s $1,800 support level, for the billionth time, Gold rallied back strongly. Gold has reached a high today of $1,812 before seeing some light selling. At 11am PT today, Gold is trading at $1,813 per ounce, up $9 per ounce on average volume.

SILVER

Silver appears to have lost its precious metal pricing leadership role as it followed Gold higher in U.S. trading. Silver traded today between $22.44 and $22.90 per ounce. At 11am PT today, Silver is up $0.19 per ounce, trading at $22.84 on normal volume.