PPI Negatively Affecting Gold Prices During U.S. Markets

GOLD

The Gold price moved above $1,800, reaching a high of $1,807 on strong Asian and European buying. When the U.S. Markets opened the PPI (Producers Price Index) was reported for November showing a 0.3% increase, up 7.4% from a year ago. The Gold price was affected negatively and dropped below $1,800 per ounce on this inflationary news. At 11am PT today, Gold is trading at $1,798 per ounce, up $8 on average volume.

SILVER

Silver was the leader in the precious metal markets today, reaching a high of $23.78, before seeing light profit-taking on release of the PPI. At 11am PT today, Silver is up $0.45 per ounce, trading at $23.50 on excellent volume.