U.S. Dollar Index Breaks Above 100, But Gold Holds Strong

GOLD

Wow, as interest rates (10-Year Treasuries) move to a new record high of over 2.7% and the U.S. Dollar Index breaks above 100, Gold is surprisingly strong. After initially moving down to $1,927 per ounce, Gold rallied back to test the important $1,950 level today. At 11am PT today, Gold is trading at $1,943 per ounce, up $8 on strong volume.

SILVER

Silver followed Gold lower and then higher, reaching a high of $24.82 before seeing some light selling. Since Gold is the leader in precious metals right now, I would hope to see Silver break above $25 if Gold firmly moves back above $1,950 on Monday. At 11am PT today, Silver is up $0.12 per ounce, trading at $24.74 on average volume.