U.S. Dollar Index Growing Strong, Weakening Gold in U.S. Markets

GOLD

This morning, Gold moved to $1,810 in late Asian trading, and sold-off in European trading. When Gold opened in the U.S., Gold dropped to test support around the $1,768 per ounce level. A stronger U.S. Dollar Index, briefly moving above 105, added to the weakness of Gold in the U.S. market. At 11am PT today, Gold is trading at $,1770 per ounce, down $25 on average volume.

SILVER

Silver led the fall in the precious metal index this morning, breaking down below the $23 level and reaching a low of $22.17, before finding bargain buying. Many of the world’s largest mints have started producing 2023 dated Silver coins. Hopefully, the distributors allocating will be increased to help lower the current high premium levels. At 11am PT today, Silver is down $0.80 per ounce, trading at $22.25 on normal volume.