U.S. Dollar Rally Tests Lower Gold Trading Range

GOLD

A rally in the U.S. Dollar caused Gold to test the lower end of its recent trading range this morning of $1,280 per ounce. Strong demand appeared and quickly rallied the price up $6 per ounce. At 11am PT today, Gold is trading at $1,284.50, down $9 on average volume.

SILVER

Today’s decline in the Gold price caused Silver to break below the $15.50 per ounce support level. Silver reached a low of $15.31 before seeing bargain buying. At 11am PT today, Silver is down $0.17 per ounce, trading at $15.37 on normal volume.