Gold & Silver Testing Key Resistance Levels

GOLD

Gold made its 1st attempt to break above the $3,700 level this morning in European trading. Gold hit a high today of $3,703.30 per ounce before seeing profit-taking. With a weaker U.S. Dollar (Dollar Index at 76.61 – Lowest in over 10 years) and Fed Chairman Powell’s interest rate announcement tomorrow, traders are buying Gold.

At 11am PT today, Gold is up $6 per ounce, at $3,687 on average volume.

SILVER

Silver briefly traded above $43 per ounce this morning, reaching a high of $43.03 before seeing selling. Silver is showing excellent price support above the $42.50 level.

At 11am PT today, Silver is down $0.10 per ounce, at $42.50 on normal trading volume.