U.S. Dollar Index Breaks Below Key 92 Level

GOLD

This morning, Gold firmed up above the recent low of $1,765 and saw sizeable bargain buying. Then the price moved higher as the U.S. Dollar Index broke back below the key 92 level, reaching a high of $1,788 before seeing some light selling. Current interest rates remaining low could be the key factor for the move toward $1,800 later this week. At 11am PT today, Gold is trading at $1,783 per ounce, up $10 on excellent volume.

SILVER

Silver did reach a low of $25.52 in Asian morning trading before seeing fresh buyers come in. As markets rolled in Europe, Silver rallied and moved towards the key $26 per ounce level. In morning U.S. trading Silver broke back above $26, reaching a high of $26.13 per ounce. At 11am PT today, Silver is up $0.05 per ounce, trading at $25.99 on good volume.