Gold Reaches An All-Time High

GOLD

A combination of a weaker U.S. dollar and lower yields on U.S. Treasuries fueled the raise for Gold to an all-time high. Gold broke above the past all-time high of $1,923 and kept on going, reaching a high of $1,945 per ounce. At 11am PT today, Gold is trading at $1,937 per ounce, up $40 on excellent volume.

SILVER

Following the raise in Gold prices, Silver went into orbit, flying through $24 per ounce. Late last week, a good number of professional traders shorted Silver around $23 and this morning they ran to cover those shorts, taking the price above $24. At 11am PT today, Silver is up $1.66 per ounce, trading at $24.35 on excellent volume.