The U.S. Dollar Index Sets New Short-Term Highs

GOLD

Gold continues its consolidation after the recent correction. Gold has traded today between $1,778 to $1,792 per ounce on average trading volume. While interest rates are staying stable, the U.S. Dollar Index is setting new short-term highs. This continues to put pressure on the Gold price. At 11am PT today, Gold is trading at $1,784 per ounce, down $1 on average volume.

SILVER

Silver reached a high of $23.92 in Asian markets, but couldn’t hold that level as trading rounded in Europe. Right now, Silver seems to be comfortable in the $23.50 price area. At 11am PT today, Silver is down $0.17 per ounce, trading at $23.48 on normal volume.