Physical Demand For Gold And Silver Remains Strong

GOLD

A higher U.S. Dollar and rising interest rates continue to put pressure on precious metal prices. U.S. weekly initial jobless claims unexpectedly fell to the lowest level since February, adding to the Federal Reserve's concerns. Gold did reach $1,933 on strong Asian buying before dropping as U.S. markets opened.

At 11am PT today, Gold is up $1, trading at $1,920 on light volume.

SILVER

Silver traded above and below the key $23 level for most of today’s trading session. Physical demand remains strong with bullion coin premiums at their current levels.

At 11am PT today, Silver is up $0.01 per ounce, trading at $22.98 on average volume.