Gold Reaches 3-Month High
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GOLD
This morning, the Dollar Index has dropped to 90.10 and 10-Year Treasuries are below 1.60% giving the Gold price a boost. Gold reached a high of $1,846, a 3-month high, before seeing some light profit taking. Gold should test the $1,850 resistance level very soon. At 11am PT today, Gold is trading at $1,836 per ounce, up $6 on normal volume.
SILVER
Silver made its first attempt to break the $28 resistance level this morning, reaching a high of $27.99 during early European trading. This recent rally is driving stronger demand and adding to the physical shortage issue, as premiums remain high. At 11am PT today, Silver is unchanged at $27.42 per ounce on average trading volume.