Silver Rising With Wage & Price Inflation

GOLD

With today’s spike in the 10-Year Treasury interest rate, moving over 1.85%, Gold has been on the defensive since the opening of the market. Gold initially sold off to $1,805, but has been rallying higher since that low. At 11am PT today, Gold is trading at $1,817 per ounce, down $4 on average volume.

SILVER

Silver has taken a leadership role in precious metal trading today, rallying $0.70 to a high of $23.72 per ounce before seeing some short-term profit taking. What we are seeing today is that the Silver price is more affected by wage and price inflation than higher interest rates. At 11am PT today, Silver is up $0.56 per ounce, trading at $23.56 on excellent volume.