Treasury Yields Putting Pressure on Gold & Silver

GOLD

The Gold price had a strong rally, reaching $1,761 in Asia and Europe this morning as the 10-Year Treasury reached a low of 1.38%. But, when the markets moved into the U.S. the treasuries rallied and Gold saw short-term profit taking, driving the price down below $1,740 per ounce. At 11am PT today, Gold is trading at $1,725 per ounce, down $6 on heavy volume.

SILVER

Silver reached a high of $27.20 per ounce when Gold was trading over $1,760. Then Silver sold off with Gold when the markets rolled into the U.S. and reached a low of $26.70. At that price fresh buying jumped in, and the price rallied back up to $27 per ounce level. At 11am PT today, Silver is up $0.02 per ounce, trading at $26.57 on heavy volume.