U.S. Dollar Index & Interest Rates Rallied Today

GOLD

Gold reached a high of $1,791 this morning before seeing weekend trading, which took the price below $1,780 per ounce. I am disappointed that the price didn’t break back above the key $1,800 level this week, but the U.S. Dollar Index and interest rates rallied today. At 11am PT today, Gold is trading at $1,778 per ounce, up $3 on average volume.

SILVER

Silver appears to be closing above the key $26 per ounce resistance level today. There is optimism that Silver will lead the next precious metal rally from a number of knowledgeable commodity traders. At 11am PT today, Silver is up $.05 per ounce, trading at $26.01 on normal volume.