Gold Rallies On Weaker U.S. Dollar

GOLD

After reaching a low of $1,293 this morning the Empire State manufacturing survey was released, showing much weaker economic numbers than expected and Gold rallied. A weaker U.S. Dollar helped and Gold quickly rallied, reaching a high of $1,306 per ounce. At 11am PT today, Gold is trading at $1,302 per ounce, up $5 on excellent Friday volume.

SILVER

Silver rallied with Gold, reaching a high of $15.37 before seeing some weekend selling. Silver needs to stay above the $15.20 level for a few more trading days to build bullish confidence with traders. At 11am PT today, Silver is up $0.08 per ounce, trading at $15.27 on normal volume.