Gold & Silver Holding Above Key Support Levels

GOLD

Gold tested the key $4,500 support level for the sixth time this morning during U.S. trading, reaching a low of $4,491 before rallying back. A strong U.S. Dollar (99.41), a six-week high, a higher 10-Year Treasury Bill (4.56%), plus oil over $100 are putting pressure on precious metal prices. In the face of the above, Gold is seeing strong demand, which is supporting the $4,500 level.

At 11am PT today, Gold is down $33 per ounce, trading at $4,517 on average volume.

SILVER

Silver followed Gold lower, reaching $74.86, and rallied back above $77 per ounce.

At 11am PT today, Silver is trading at $75.95 per ounce, down $0.70 on average volume.