Gold & Silver Slowing Down After Big Rally

GOLD

This morning in Asian and European trading, a strong U.S. Dollar took the Gold price down from $1,970 to $1,950 per ounce, testing a key support level. As trading moved out of Europe and into the U.S., the U.S. Dollar Index showed weakness and the Gold price came storming back. Gold reached a high this morning of $1,991 before seeing some like selling. At 11am PT today, Gold is trading at $1,985 per ounce, up $15 on excellent volume.

SILVER

Silver followed Gold lower in early trading, breaking below the $24 level and reaching a low of $23.58 per ounce. Then, as Gold rallied back, Silver followed and reached a high of $24.29 before slowing down. At 11am PT Today, Silver is down $0.15 per ounce, trading at $23.85 on strong volume.