U.S. Dollar Index & 10-Year Treasury Bill Highs Are Pressuring Precious Metals

GOLD

A 2-Year high in the U.S. Dollar Index (99.75), and a 3-Year high in interest rates on the 10-Year Treasury Bill (2.65%) is putting pressure on the Gold price today. In Asian trading, Gold reached a low of $1,914 per ounce before seeing sizeable buying in London. At 11am PT today, Gold is down $2 per ounce, trading at $1,920 on normal volume.

SILVER

Silver followed Gold lower in Asian trading, reaching a low of $24.07, before turning around. Silver needs to move back above $25 to pick up support for professional commodity traders and brokers. At 11am PT today, Silver is trading at $24.40 per ounce, up $0.04 on average volume.