Silver Shows Weakness In Face Of Strong Gold Market

GOLD

With the 10-Year Treasuries interest rate trading at a low of 2.085, Gold took its second attempt at breaking the $1,350 per ounce resistance level. Gold reached a high of $1,357 before seeing short-term profit taking. I believe the next attempt will come next week and should be successful, barring any negative news. At 11am PT today, Gold is trading at $1,345 per ounce, up $3 on excellent volume.

SILVER

Silver continues to show weakness in the face of strength in the Gold market. Silver reached a high of $15.12 per ounce, before getting destroyed by short-sellers. At 11am PT today, Silver is down $0.10, trading at $14.82 on excellent volume.