Higher Oil & U.S. Dollar As Gold Holds Firm Over $4,100

GOLD

While China is aggressively buying Gold, Russia has been aggressively selling Gold. Since Russia has been sanctioned in Western markets like London, Russia has sold 112 metric tons of Gold in the Hong Kong market since January. Gold normally would show price strength in China; now it's absorbing tons of Gold and holding firm.

Today, Gold stayed above $4,100 per ounce in all overseas markets and the U.S. With the Oil price and U.S. dollar at record-high levels, Gold hasn’t sold off or tested the lows.

At 11am PT today, Gold is trading at $4,128 per ounce, up $13 on the day.

SILVER

Silver broke down below the key $60 per ounce level during trading in London. Silver reached a low today of $58.38 before finding bargain buying during U.S. trading.

At 11am PT today, Silver is down $0.90 per ounce, trading at $59.02 on excellent volume.