The U.S. Dollar Continues To Pressure Gold

GOLD

The U.S. Dollar continues to move higher (above 96.4), which puts pressure on Gold valued in Dollars. Gold has spent today in the $1,775 to $1,785 trading range, without any new information or announcements. Gold could stay under pressure until we see current inflation data this coming Friday. At 11am PT today, Gold is trading at $1,782 per ounce, down $6 on normal volume.

SILVER

Silver tested its $22 per ounce support level this morning, reaching a low of $22.09 before rallying $0.20 per ounce. Continued uncertainty about the Omicron variant and inflation isn’t helping any precious metal price. At 11am PT today, silver is down $0.25 per ounce, trading at $22.36 on average volume.