Interest Rates Have Dropped Dramatically, Making Precious Metals Attractive To Buyers
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GOLD
As the equity markets are getting pummeled, Gold is doing what it is supposed to as a safe haven investment. Recent history has shown (2008-09 financial crisis) that Gold holds and increases value during times of high volatility and declining traditional financial markets. While the U.S. Dollar Index has stayed strong, interested rates have dropped dramatically, which makes precious metals look attractive to investors. At 11am PT today, Gold is trading at $1,239 per ounce, up $3 on excellent volume.
SILVER
Silver is trading in the recent $14.30 to $14.50 range today, as it consolidates above the recent lows. At 11am PT today, Silver is down $0.04 per ounce, trading at $14.44 on normal volume.