U.S. 10-Year Treasuries Hit a 5-Month Low

GOLD

U.S. 10-Year treasuries reached a 5-month low of 1.298% this morning, which fueled a rally in the Gold market. Gold reached a high of $1,809.60 this morning, before seeing some light selling. Moving back above the key $1,800 resistance level is an excellent sign for a Gold bullish trend. Now we need to see $1,800 act as a support level, while Gold moves higher. At 11am PT today, Gold is trading a $1,803 per ounce, up $7 on good volume.

SILVER

Silver isn’t showing the same demand and price support as Gold during the past few trading sessions. Silver continues to stay above the key $26 level, but with Gold moving above $1,800, I would have expected to see Silver move over $26.50 per ounce. At 11am PT today, Silver is down $0.10 per ounce, trading at $26.08 on average volume.