Gold & Silver Defy Strength Of The U.S. Dollar

GOLD

Both interest rates and the U.S. Dollar Index hit new highs this morning. The 10-Year Treasury yields are trading above 4.50% (16-year High) and the U.S. Dollar Index moved above 106. Both of these and concerns about a U.S. government shutdown this week are putting pressure on Gold and Silver today. At 11am PT Today, Gold is trading at $1,916 per ounce, down $9 on average volume.

SILVER

Silver led precious metals lower this morning on the interest rate and U.S. Dollar news. Silver tested its $23 support level in Asian trading and held, rallying $0.20 on bargain buying. At 11am PT today, Silver is down $0,40 per ounce, trading at $23.15 on excellent volume.