Stronger Dollar Causes Gold To Test Support Level

Stronger Dollar Causes Gold To Test Support Level

The U.S. Dollar Index moved back above the key 91 level this morning, causing Gold to test its $1,700 per ounce support level. Gold reached a low of $1,702 before finding bargain buying which drove the price up $20 per ounce. At 11am PT today, Gold is down $17 per ounce, trading at $1,720 on excellent volume.

SILVER

Silver sold off with Gold this morning, reaching a low of $25.80 per ounce. Demand is very heavy every time Silver breaks below the $26 price level. At 11am PT today, Silver is trading at $26.42 per ounce, down $0.45 on excellent volume.

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