Gold & Silver Battling The Dollar Index Increase

GOLD

This morning Gold was holding at the resistance line at $2,050. With the Dollar Index rising and the Treasury yields up in the beginning of the week, Gold has been very quiet. We are still waiting on the Federal Reserve speaker’s update on rate cuts to helps point us in a bullish direction. At 11am PT today, Gold is trading at $2029 per ounce, down $22.

SILVER

Silver has taken a Bearish Outlook at the start of this week. Due to the Dollar index increasing, Silver seems to have dropped. With the Gold-to-Silver ratio at 88-to-1 all we can do is wait for the Federal Reserve’s decision on rate cuts to fully know where silver will stand. At 11am PT today, Silver is trading at $23.01 per ounce, down $0.29.