Interest Rates Trading Near 20-Year Highs

GOLD

With the U.S. Dollar and 10-Year Treasury interest rates trading near 20-year highs, Gold has established a trading range between $1,700 and $1,730 per ounce. If Gold can hold above the $1,700 level, until we see a break in the Dollar or interest rates, it will stay strong. We still have another Federal Reserve meeting later this month and they are expected to raise rates again. At 11am PT today, Gold is trading at $1,711 per ounce, down $9 on average volume.

SILVER

Silver reached a high of $18.84 this morning during Asian trading. Demand for physical Silver by many of the world’s largest mints remains strong and premiums have increased. At 11am PT today, Silver is trading at $18.54 , unchanged from yesterday.