Gold On The Road Back To $3,350 Per Ounce

GOLD

A combination of an oversold Gold price, a sell-off in the stock index, and a weaker U.S. Dollar drove the price of Gold higher all day. Gold rallied by $12 in Asian markets, an additional $10 in London, and is currently up another $8 on U.S. markets. Gold traders are still looking forward to Fed Chairman Powell’s speech on Friday at Jackson Hole.

At 11am PT today, Gold is up $30 per ounce, trading at $3,347 on excellent volume.

SILVER

As Gold moves higher today, Silver is following it higher. After reaching a low of $36.89 in early Asian trading last night, Silver has made a U-Turn and has rallied back.

At 11am PT today, Silver is trading at $37.82 per ounce, up $0.52 on excellent volume.