Gold Stuck In Holding Pattern While U.S. Dollar Rallies

GOLD

As the U.S. Dollar continues to rally (above 94.50), Gold remains in a holding pattern between $1,750 and $1,770 per ounce. Other precious metals are showing excellent price support with Platinum above $1,000 and Palladium above $2,000, which are good indicators. At 11am PT today, Gold is trading at $1,763 per ounce, up $5 on normal volume.

SILVER

Silver tested support this morning, reaching a low of $22.31 before finding bargain buying. Right now, $22.50 is a key level for Silver to stay above. At 11am PT today, Silver is trading at $22.65, down $0.07 per ounce on average volume.