Gold & Silver Drop On Higher Interest Rate Scare

GOLD

Gold reached a low of $4,395 in India before seeing sizeable demand, driving the price up to $4,470 per ounce when trading in London. After trading opened in the U.S., Gold moved lower, briefly breaking below the key $4,400 level before seeing sizeable demand, and the price moved past $4,430 per ounce.

At 11am PT today, Gold is at $4437.01 per ounce, down $17.66 per ounce.

SILVER

Silver also bottomed out during Indian trading, reaching a low of $65.51 per ounce. Demand picked up in late trading, and the price moved past $67 per ounce in London. After U.S. trading, Silver reached the daily low of $65.51 before strong demand took the price to $66.50 per ounce.

At 11am PT today, Silver is trading at $66.39 per ounce, up $0.09 on excellent volume.