The Perfect Formula For Higher Precious Metal Prices
Lower interest rates with a weaker U.S. Dollar, the perfect formula for higher precious metal prices. Gold firmly broke above the key $1,300 per ounce resistance level today, reaching a high of $1,310 before seeing some light profit taking. We are back on the $1,400 per ounce road. At 11am PT Today, Gold is trading at $1,309, up $10 on excellent volume.
Silver moved higher with Gold, but hit resistance at $15.58 on short-term profit taking. For the most part of today’s trading Silver traded above and below the $15.50 level. At 11am PT today, Silver is up $0.01 per ounce, trading at $15.48 on normal volume.