Gold Rallies As The US Dollar Loses Value

GOLD

As the U.S. Dollar lost value in overnight trading, reaching 92, the price of Gold kept on rallying, hitting a high of $1,816 per ounce. When the Dollar Index started rallying back, the price of Gold lost value, and couldn’t hold the important $1,800 per ounce support level. At 11am PT today, Gold is trading at $1,796 per ounce, up $9 on excellent value.

SILVER

As Gold was moving higher, Silver reached a high of $26.88 per ounce. Then when Gold sold off, Silver came down to find support in the $26.00 level. At 11am PT today, Silver has dropped $0.30 from Friday, trading at $26.18 on active volume.