U.S. Dollar Index Soars To A 18 Month High

GOLD

The U.S. Dollar Index soared to a 1 ½ year high this morning of 97.40, and with the Federal Reserve raising interest rates next month, the Gold price got hit hard this week. Gold reached a low of $1,780 per ounce, down $51 for the week. At 11am PT today, Gold is trading at $1,790 per ounce, down $8 on strong volume.

SILVER

The Silver price really over-reacted to the decline in the price of Gold and a soaring U.S. Dollar Index. Silver dropped $1.90 per ounce this week, reaching a remarkable Silver-to-Gold ratio of 80-to-1. At 11am PT today, Silver is trading down $0.34 per ounce, trading at $22.46 on excellent volume.