U.S. Dollar and Interest Rate Concerns as Gold Builds a New Base

GOLD

It appears that Gold is trying to build a nice base above the key $1,700 per ounce support level. Gold has traded today between $1,706 and $1,726 per ounce, on good volume. The market continues to be concerned about a higher U.S. Dollar and interest rates and reacts to any news. At 11am PT today, Gold is trading at $1,712 per ounce, down $1 on good volume.

SILVER

Silver is also trying to build a firm base above the key $20 level. Silver traded today between $20.35 and $20.85 on excellent volume. At 11am PT today, Silver is up $0.02 per ounce, trading at $20.62 on excellent volume.