Strong US Dollar Is Still Pressuring Gold

GOLD

A strong U.S. Dollar, reaching 105, continued to put pressure on the Gold price this morning. Gold briefly broke down below the key $1,800 level, reaching $1,798 per ounce. At that point sizeable buying appeared (maybe a central bank) and the price quickly moved back above $1,810 per ounce. At 11am PT today, Gold is down $14 per ounce, trading at $1,810 on heavy volume.

SILVER

Silver dropped to $20.44 per ounce when Gold broke the $1,800 level, and also quickly rallied higher. Silver moved back above the $21 level on active trading and sizeable volume. Silver is showing better price support then Gold on today’s rally. At 11am PT today, Silver is up $0.28 per ounce, trading at $20.98 on strong volume.