Gold Rallies Heading Into The Weekend
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GOLD
A disappointing jobs report released this morning has given confirmation to the fact that that Federal Reserve is highly unlikely to raise interest rates in the near future. Both interest rates and the U.S. Dollar Index declined on this news causing the price of Gold to reach a high of $1,844 per ounce, before seeing some light selling. At 11am PT today, Gold is trading at $1,830 per ounce, up $18 on normal volume.
SILVER
Silver reached a high this morning of $27.77 per ounce, before seeing light profit taking by traders ahead of the weekend. I'm hoping to see Silver stay above the $27 level and build a higher base for the next leg to $28 per ounce. At 11am PT today, Silver is up $0.08 per ounce, trading at $27.42 on good volume.