Interest Rates and the Impact on Gold

GOLD

With Interest rates and the U.S. Dollar continuing to stay near 10-year highs, Gold has seen a lot of downward pressure, but remains above $1,800 per ounce. Watching Gold trading right now is boring, but it’s a lot better than seeing many other investment vehicles moving sharply lower. During difficult financial times for investors, Gold is again showing it remains as the best safe haven investment. At 11am PT today, Gold is trading at $1,818 per ounce, down $4 per ounce on light volume.

SILVER

Silver continues to drift lower with Gold, showing support and bargain buying above $20.60 per ounce. Trading volume remains light ahead of this long holiday weekend. At 11am PT today, silver is down $0.10 per ounce, trading at $20.80 on light volume.