Silver Shows Demand And Support

GOLD

Gold is down today on higher 10-Year U.S. Treasury yields, over 1.3%, and a stronger Dollar Index over 91. Gold’s 1% downturn was also helped by the release of January’s U.S. retail sales data which showed a strong surge. Gold did reach a low of $1,769 before finding bargain buying and short-covering. At 11 am PT today, Gold is trading at $1,776, down $23 on excellent volume.

SILVER

With Gold down over 1%, it's surprising to see Silver holding over $27 per ounce. Silver is showing excellent demand and price support above the key $27 level and isn’t affected by a strong U.S. dollar and rising interest rates. At 11 am PT today, Silver is trading at $27.30 per ounce, down $0.05 on good volume.