Gold & Silver Test Key Support Levels

GOLD

U.S. Dollar and interest rates are higher, while precious metals are lower, which is just the way it works most of the time. Both the U.S. Dollar Index (over 106) and U.S. 10-Year Treasury Notes (over 4.55%) are still trading at record highs. This puts pressure on the price of Gold and Silver, valued in U.S. Dollars. Gold has, for the eighth time since August, tested the key $1,900 per ounce support level and held. At 11am PT today, Gold is trading at $1,902 per ounce, down $14 on the day.

SILVER

Silver was unable to hold the $23 per ounce price support level and fell to $22.84 before rallying back on excellent demand. Trading volume has picked up substantially in Asian markets as they take advantage of the decline in price. At 11am PT today, Silver is down $0.20 per ounce, trading at $22.95 on excellent volume.