Gold & Silver Holding Above Key Support Levels.

GOLD

Gold is higher this morning because of a weaker U.S. Dollar Index, and expectations that Wednesday report on the CPI will be better than projected. Ahead of Federal Reserve Sept. 19-20 meeting this month, Fed policymakers have been clear that they are not itching to raise rates, but few among them are ready to declare victory either. At 11am PT today, Gold is trading at $1,923 per ounce, up $3 on average volume.

SILVER

This morning Silver has moved back above the $23 per ounce resistance level. China’s demand for Silver seems to be picking up and with China accounting for about half of global offtake, any improvement here could help Silver move back to the $25 per ounce level. At 11am PT today, Silver is up $0.10 per ounce, trading at $23.08 on normal volume.