Gold & Silver Testing Key Support Levels

GOLD

In overnight trading in Asia, the Middle East, and Europe Gold reached a high of $2,696 and a low of $2,658 per ounce. The strength of the U.S. Dollar, with the Index reaching a 3-Year high of over 110, is putting pressure on the Gold price. Interest rates are also moving higher, which makes the Treasury bill look more attractive.

At 11am PT today, Gold is down $32 per ounce, trading at $2,658 on heavy volume.

SILVER

Silver followed Gold lower in overnight trading, finding support at $29.43 and moving back over the $29.50 level. I saw strong demand for physical Silver investment items at today’s lows.

At 11am PT today, Silver is trading at $29.60 per ounce, down $0.92 on heavy volume.