U.S. Dollar & Interest Rates Move Higher, Pressuring Gold

GOLD

This morning, both the U.S. Dollar and interest rates moved higher, putting pressure on the Gold price. Gold broke below the key $1,800 level, reaching a low of $1,791 before seeing sizeable bargain buying. At 11am PT today, Gold is trading at $1,800 per ounce, down $35 on normal volume.

SILVER

Silver reacted with Gold’s sharp decline this morning, reaching a low of $24.15 before seeing a rally. Silver at $24 is a bargain and I expect to see strong demand for the popular Silver investment products. At 11am PT today, Silver is down $0.35 per ounce, trading at $24.46 on average volume.