Precious Metals Rally Over U.S. Dollar Drop

GOLD

Gold reached a low of $1,780 in Asian and early European trading this morning. Then it rallied on a drop of the value of the U.S. Dollar as Europe closed and the U.S. Markets opened. Gold tested the $1,800 level today, but was unable to break above. At 11am PT today, Gold is trading at $1,800, up $9 on average volume.

SILVER

Silver broke down below the $22 support level this morning, but rallied back with Gold. Silver is finding excellent demand above $22 per ounce. At 11am PT today, Silver is up $0.24 per ounce, trading at $22.47 on normal volume.