U.S. Dollar Index Hits A 20-Year High

GOLD

The U.S. Dollar Index hit a 20-Year high this morning, over 103 today, putting pressure on the Gold price. For the most part of today’s trading was above and below the key $1,900 per ounce support level. But, when the Dollar rallied in late trading, Gold dropped to $1,881 before seeing sizeable bargain buying. At 11am PT today, Gold is trading at $1,891 per ounce, down $13 on normal volume.

SILVER

Silver fell with Gold in reaction to the high value of the U.S. currency. Silver reached a low of $23.27 before seeing fresh buying and short-covering. Demand for many of the popular Silver investment coins and bars remains strong and premiums are holding. At 11am PT today, Silver is down $0.05 per ounce, trading at $23.53 on average volume.