Interest Rates Increase & Gold Rallies Over The U.S. Dollar

GOLD

A slight tick up in interest rates and the U.S. Dollar equals a small move down in Gold and Silver. Gold saw its second test of it $1,750 per ounce support level this morning, reaching a low of $1,754 before rallying higher. Building a trading range between $1,750 and $1,800 would be very healthy for Gold after the recent rally. At 11am PT today, Gold is trading at $1,761 per ounce, down $14 on average volume.

SILVER

Silver moved lower with the Gold sell-off, briefly breaking below the $21 support level and reaching a low of $20.75 before rallying back. At 11am PT today, Silver is down $0.60 per ounce, trading at $20.99 on normal volume.