U.S. Dollar Index Saw Major Profit Taking Causing Gold to Rise

GOLD

After reaching a high of 109.29 this morning the U.S. Dollar Index saw some major profit taking. That sell-off took the Gold price up to $1,755 before seeing some light profit taking. At 11am PT today, Gold is trading at $1,748 per ounce, up $11 per ounce on good volume.

SILVER

The Silver price moved with Gold this morning, rallying on the small sell-off in the Dollar. Silver reached a high of $19.38, well above the $19 support level, before seeing some short-term sellers. At 11am PT today, Silver is up $0.15 per ounce, trading at $19.17 on nice volume.