Gold On The Slow Road To $2,700 Per Oz

GOLD

What is truly surprising about the current Gold rally is the fact that it is happening in the face of a very strong U.S. Dollar. The U.S. Dollar Index is at 109.34, the highest level in the past 2 years. Gold continues to show excellent demand and reached a high of $2,679 in European trading.

At 11am PT today, Gold is up $16 per ounce, trading at $2,670 per ounce, up $16 on excellent volume.

SILVER

Silver is following Gold higher, showing excellent demand over the key $30 per ounce level. Silver reached a high of $30.60 per ounce during European trading and stayed above $30 during US trading.

At 11am PT today, Silver is trading at $30.12 per ounce, up $0.10 on normal volume.