Gold Reaches All-Time High Followed By Profit Taking

GOLD

Gold reached a high of $2,182 per ounce in early Monday trading as the dollar index weakened (104.2) amid hopes of a Federal Reserve rate cut in June. Demand for physical and future contracts remains high, which is giving the price excellent support.

At 11am PT today, Gold is trading at $2,175, up $15 on solid volume.

SILVER

Silver has traded between $24.51 and $24.92 this morning in light trading. Silver can be explosive on any Gold rally, but needs to move back above $25 per ounce for a positive look by professional traders.

At 11am PT today, Silver is up $0.06 per ounce, at $24.73 on average volume