Strong Inflation News Pushes Precious Metals Higher

GOLD

It appears that strong inflation news outweighs a stronger U.S. Dollar when it comes to the price of precious metals. Gold broke above the key $1,800 per ounce resistance level in late London trading. However, unlike last Friday, when the metals markets rolled into the U.S. the $1,800 level held. At 11am PT Today, Gold is trading at $1,810 per ounce, up $15 on excellent volume.

SILVER

Silver continues to show excellent demand and the price is reflecting it with higher volumes and higher prices. As Gold rallied above $1,800 per ounce, Silver moved above the $24.50 level on its way to the key $25 level. At 11am PT today, Silver is up $0.23, trading at $24.63 on good volume.