U.S. Dollar index and Treasury Yields Causing Gold to Slightly Dip

GOLD

In the Asian trading hours we saw Gold trading in a fairly narrow range in the low $1700’s, but as we were in the beginning of trading today in the US we saw Gold tip below the $1700 level. Mainly because we are seeing the U.S. Dollar index rise in addition to Treasury yields. This has made it a bearish day for the large majority of the market today as well. We see Gold continue to fight now back around the $1700 level. At 11am Gold is $1,702.31 down by $17.63 on above average trading volume.

SILVER

Overnight Silver dropped slightly into the high $17 range in Asian and European trading hours. In US trading hours we are seeing it work back towards to the $18 in trading level at this point in time. At 11am Silver is $17.92 down by $0.22 on strong trading volume.