In late trading yesterday, Gold was in the $1,275 price area when President Trump gave an interview to the Wall Street Journal. In that interview, Trump stated that the U.S. Dollar was "getting too strong and that he'd like the Federal Reserve to keep interest rates low." When Trumps statement was released, both the U.S. Dollar and interest rates sold off, and Gold quickly jumped up $10 per ounce to the $1,285 area. Today, Gold has held that increase, consolidating recent gains between $1,281 and $1,289 per ounce, a new 2017 high. At 11am PDT today, Gold is trading at $1,284.50, up $11.50 per ounce on excellent volume.
Silver moved up with Gold yesterday in late trading, reaching a high of $18.63 per ounce. Today, Silver has settled into a trading range between $18.40 and $18.60 per ounce. This week Silver has traded above the key $18 per ounce support level. This is very bullish after hitting $17.87 last Friday. At 11am PDT today, Silver is up $0.23 per ounce, trading at $18.50 on good volume.